Bank of America Lowers Adient (NYSE:ADNT) Price Target to $30.00

Adient (NYSE:ADNT) had its price target decreased by Bank of America from $35.00 to $30.00 in a report released on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other analysts have also issued reports on ADNT. Morgan Stanley lowered their price target on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. UBS Group reduced their price objective on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. BNP Paribas upgraded Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective on the stock in a research report on Monday, July 1st. Finally, Wells Fargo & Company reduced their price objective on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.38.

Adient Stock Performance

Shares of NYSE:ADNT opened at $21.83 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. The business’s 50 day moving average price is $21.80 and its 200-day moving average price is $25.26. The firm has a market capitalization of $1.96 billion, a PE ratio of 13.39, a P/E/G ratio of 0.35 and a beta of 2.16. Adient has a 1 year low of $19.40 and a 1 year high of $37.19.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, equities research analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its position in 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 purchasing an additional 443 shares during the period. Covestor Ltd raised its position in Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after purchasing an additional 2,210 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Adient in the 1st quarter valued at $135,000. Headlands Technologies LLC acquired a new position in Adient during the 1st quarter worth about $159,000. Finally, Algert Global LLC acquired a new position in Adient during the 2nd quarter worth about $227,000. 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.