Adient (NYSE:ADNT) Shares Gap Down Following Analyst Downgrade

Adient plc (NYSE:ADNT - Get Free Report)'s stock price gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $14.74, but opened at $13.85. Adient shares last traded at $13.80, with a volume of 201,100 shares traded.

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

Institutional Investors Weigh In On Adient

Several hedge funds and other institutional investors have recently bought and sold shares of ADNT. Point72 Hong Kong Ltd purchased a new position in shares of Adient during the fourth quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in shares of Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company's stock valued at $32,000 after buying an additional 1,857 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Adient during the fourth quarter worth about $32,000. IFP Advisors Inc grew its holdings in shares of Adient by 6,924.2% during the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock worth $40,000 after buying an additional 2,285 shares during the last quarter. Finally, US Bancorp DE increased its position in Adient by 583.8% in 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 during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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Adient Trading Down 3.7 %

The company has a 50 day simple moving average of $16.88 and a 200 day simple moving average of $19.31. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.26 billion, a PE ratio of 747.70, a P/E/G ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 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 period in the previous year, the firm posted $0.31 EPS. Analysts predict that Adient plc will post 1.76 earnings per share for the current fiscal year.

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.