Adient (NYSE:ADNT) Cut to “Hold” at StockNews.com

Adient (NYSE:ADNT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other research analysts have also weighed in on ADNT. Wolfe Research began coverage on Adient in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Bank of America lowered Adient from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Monday. Finally, Morgan Stanley reduced their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, Adient currently has an average rating of “Hold” and an average price target of $23.50.

Adient Trading Down 2.4 %

Shares of NYSE ADNT traded down $0.41 on Friday, reaching $16.85. 2,712,413 shares of the company traded hands, compared to its average volume of 1,230,568. The stock has a market capitalization of $1.43 billion, a PE ratio of 73.26, a P/E/G ratio of 0.32 and a beta of 2.15. Adient has a fifty-two week low of $16.77 and a fifty-two week high of $37.19. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average of $19.94 and a 200 day moving average of $22.24.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.56 by $0.12. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. Adient’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts forecast that Adient will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adient news, EVP James Conklin sold 11,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares in the company, valued at $1,049,537.25. The trade was a 18.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Trading of Adient

Several large investors have recently modified their holdings of ADNT. US Bancorp DE lifted its stake in shares of Adient by 583.8% in 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 grew its stake in Adient by 493.8% during the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after purchasing an additional 1,822 shares in the last quarter. KBC Group NV increased its holdings in Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the last quarter. Covestor Ltd raised its position in shares of Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Adient during the 2nd quarter valued at approximately $227,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.