Adient (NYSE:ADNT) Downgraded to Hold Rating by StockNews.com

Adient (NYSE:ADNT - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Wednesday.

ADNT has been the subject of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of Adient from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Morgan Stanley reduced their target price on shares of Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a research note on Monday, March 3rd. Bank of America cut shares of Adient from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $24.00 to $18.00 in a research note on Tuesday, March 4th. Wells Fargo & Company cut shares of Adient from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $27.00 to $20.00 in a research note on Monday, December 16th. Finally, Barclays reduced their target price on shares of Adient from $24.00 to $21.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.88.

Remove Ads

Adient Stock Performance

Adient stock traded down $0.58 during midday trading on Wednesday, hitting $14.95. 1,486,256 shares of the company's stock were exchanged, compared to its average volume of 1,213,804. Adient has a 12-month low of $13.64 and a 12-month high of $35.62. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 747.70, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The firm's 50 day simple moving average is $16.88 and its 200 day simple moving average is $19.30.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter in the previous year, the company earned $0.31 EPS. Equities research analysts predict that Adient will post 1.76 EPS for the current year.

Institutional Trading of Adient

Several hedge funds and other institutional investors have recently made changes to their positions in ADNT. Point72 Hong Kong Ltd acquired a new stake in shares of Adient in the fourth quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company's stock valued at $32,000 after acquiring an additional 1,857 shares in the last quarter. R Squared Ltd purchased a new position in Adient during the 4th quarter valued at about $32,000. IFP Advisors Inc increased its holdings in Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock valued at $40,000 after acquiring an additional 2,285 shares in the last quarter. Finally, 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. 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.