Adient (NYSE:ADNT) Rating Lowered to “Neutral” at Bank of America

Bank of America cut shares of Adient (NYSE:ADNT) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat.com reports. The firm currently has $24.00 target price on the stock, down from their previous target price of $30.00.

Several other analysts also recently commented on ADNT. Wolfe Research began coverage on Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lowered their price objective 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. Barclays reduced their target price on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group lowered their price target on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.38.

Adient Stock Performance

Shares of ADNT opened at $19.34 on Thursday. Adient has a one year low of $18.53 and a one year high of $37.19. The company has a market cap of $1.64 billion, a PE ratio of 84.09, a P/E/G ratio of 0.44 and a beta of 2.18. The stock has a 50-day moving average of $21.19 and a 200-day moving average of $23.51. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The firm had revenue of $3.56 billion for 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%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. On average, equities research analysts predict that Adient will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Adient

Several institutional investors have recently made changes to their positions in the stock. CWM LLC grew its stake in Adient by 44.5% during 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 in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Adient by 3.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares during the period. Sei Investments Co. grew its position in shares of Adient by 1.3% during the 1st quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock valued at $1,686,000 after purchasing an additional 643 shares in the last quarter. Covestor Ltd increased its holdings in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after purchasing an additional 1,032 shares during the period. Finally, KBC Group NV raised its position in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after buying an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors 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.