Adient (NYSE:ADNT) Cut to "Equal Weight" at Wells Fargo & Company

Wells Fargo & Company lowered shares of Adient (NYSE:ADNT - Free Report) from an overweight rating to an equal weight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has $20.00 price target on the stock, down from their prior price target of $27.00.

Several other analysts have also issued reports on ADNT. Bank of America lowered shares of Adient from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. StockNews.com upgraded shares of Adient from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. Morgan Stanley lowered their price objective on Adient from $21.00 to $19.00 and set an "underweight" rating for the company in a research note on Thursday, November 14th. Finally, Wolfe Research assumed coverage on shares of Adient in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $23.50.

Adient Price Performance

NYSE:ADNT traded down $1.35 during trading hours on Monday, reaching $17.61. 1,785,931 shares of the company were exchanged, compared to its average volume of 1,225,437. The business has a 50 day moving average of $20.39 and a 200 day moving average of $22.54. Adient has a 1-year low of $17.56 and a 1-year high of $37.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The company has a market capitalization of $1.49 billion, a P/E ratio of 76.57, a P/E/G ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. The company 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%. Adient's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. Research analysts forecast that Adient will post 2.04 EPS for the current year.

Insiders Place Their Bets

In related news, EVP James Conklin sold 11,500 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 51,829 shares of the company's stock, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Adient

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its stake 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 acquiring an additional 443 shares during the period. US Bancorp DE increased its position in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company's stock worth $42,000 after acquiring an additional 1,588 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Adient by 493.8% in the 3rd 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 lifted its position in Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company's stock valued at $75,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company's stock worth $124,000 after purchasing an additional 1,032 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.