JPMorgan Chase & Co. Cuts Adient (NYSE:ADNT) Price Target to $21.00

Adient (NYSE:ADNT) had its price objective decreased by analysts at JPMorgan Chase & Co. from $24.00 to $21.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 22.91% from the stock’s previous close.

A number of other brokerages have also weighed in on ADNT. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Monday, December 16th. Barclays lowered their price target on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Morgan Stanley lowered their target price on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Bank of America lowered Adient from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $24.00 in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.38.

Adient Stock Up 1.2 %

ADNT opened at $17.09 on Monday. The company has a market cap of $1.45 billion, a PE ratio of 74.29, a price-to-earnings-growth ratio of 0.28 and a beta of 2.16. Adient has a twelve month low of $16.28 and a twelve month high of $36.04. The company has a 50-day moving average price of $18.10 and a 200 day moving average price of $20.71. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last announced its earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts expect that Adient will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Conklin sold 11,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the transaction, the executive vice president now directly owns 51,829 shares in the company, valued at approximately $1,049,537.25. This represents a 18.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC lifted its stake in Adient by 9.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after purchasing an additional 442,200 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Adient by 38,074.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock valued at $116,110,000 after buying an additional 5,130,969 shares during the period. State Street Corp lifted its stake in Adient by 4.8% during the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock worth $77,719,000 after acquiring an additional 158,017 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Adient by 45.0% during the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after acquiring an additional 877,142 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Adient by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 963,446 shares of the company’s stock valued at $21,745,000 after acquiring an additional 55,387 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

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.