Adient (NYSE:ADNT) Rating Lowered to “Neutral” at Bank of America

Adient (NYSE:ADNT) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They presently have a $24.00 price target on the stock, down from their prior price target of $30.00. Bank of America‘s price target suggests a potential upside of 25.89% from the company’s current price.

ADNT has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group decreased their price target on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.38.

Adient Stock Performance

Shares of Adient stock opened at $19.07 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. Adient has a one year low of $18.73 and a one year high of $37.19. The company has a market cap of $1.66 billion, a PE ratio of 82.89, a P/E/G ratio of 0.46 and a beta of 2.18. The business has a 50-day simple moving average of $21.26 and a 200-day simple moving average of $23.67.

Adient (NYSE:ADNT) last issued its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts forecast that Adient will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Large investors have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after buying an additional 443 shares in the last quarter. US Bancorp DE increased its holdings in Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after acquiring an additional 1,588 shares in the last quarter. Signaturefd LLC raised its position in Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares during the last quarter. KBC Group NV raised its position in Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.