JPMorgan Chase & Co. Cuts Adient (NYSE:ADNT) Price Target to $37.00

Adient (NYSE:ADNT) had its price target reduced by JPMorgan Chase & Co. from $40.00 to $37.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Barclays reaffirmed an equal weight rating and issued a $37.00 price target (down from $41.00) on shares of Adient in a report on Wednesday, April 10th. Bank of America cut their price target on shares of Adient from $50.00 to $46.00 and set a buy rating on the stock in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Adient from $41.00 to $40.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Adient presently has an average rating of Hold and a consensus price target of $42.43.

Adient Stock Performance

Shares of ADNT stock opened at $29.68 on Monday. The company’s 50 day moving average is $32.49 and its 200 day moving average is $33.62. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.92. Adient has a 52-week low of $27.73 and a 52-week high of $46.51. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.30 and a beta of 2.51.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.16). Adient had a return on equity of 7.90% and a net margin of 1.39%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. Adient’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that Adient will post 2.57 EPS for the current fiscal year.

Insider Activity at Adient

In related news, EVP Heather M. Tiltmann sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total transaction of $336,800.00. Following the completion of the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at $1,874,931.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foundry Partners LLC acquired a new position in Adient during the fourth quarter valued at $3,899,000. UBS Group AG raised its position in shares of Adient by 11.4% in the third quarter. UBS Group AG now owns 229,189 shares of the company’s stock worth $8,411,000 after acquiring an additional 23,450 shares during the period. Deutsche Bank AG raised its position in shares of Adient by 11.0% in the third quarter. Deutsche Bank AG now owns 49,949 shares of the company’s stock worth $1,833,000 after acquiring an additional 4,956 shares during the period. Van ECK Associates Corp raised its position in shares of Adient by 136.1% in the third quarter. Van ECK Associates Corp now owns 66,967 shares of the company’s stock worth $2,458,000 after acquiring an additional 38,604 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Adient in the third quarter worth about $2,146,000. 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.