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

Adient plc (NYSE:ADNT)’s stock price gapped down before the market opened on Tuesday after Bank of America downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $14.74, but opened at $13.85. Bank of America now has a $18.00 price target on the stock, down from their previous price target of $24.00. Adient shares last traded at $13.80, with a volume of 201,100 shares.

Several other research firms have also weighed in on ADNT. Morgan Stanley dropped their price objective on shares of Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday. UBS Group increased their price target on Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays reduced their price objective on Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $27.00 to $20.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.88.

Insider Buying and Selling at Adient

In other Adient news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total value of $232,875.00. Following the completion of the sale, the executive vice president now directly owns 51,829 shares in the company, valued at $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of Adient by 10.6% during the 4th quarter. Covestor Ltd now owns 6,062 shares of the company’s stock valued at $104,000 after purchasing an additional 580 shares in the last quarter. Mariner LLC lifted its stake in Adient by 8.6% during the fourth quarter. Mariner LLC now owns 10,157 shares of the company’s stock valued at $175,000 after purchasing an additional 801 shares during the last quarter. KBC Group NV boosted its holdings in Adient by 51.8% during 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. Point72 Hong Kong Ltd acquired a new position in Adient in the fourth quarter worth approximately $25,000. Finally, Oarsman Capital Inc. lifted its position in shares of Adient by 98.7% during the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock valued at $51,000 after acquiring an additional 1,473 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Stock Down 4.8 %

The stock has a fifty day moving average of $17.08 and a 200-day moving average of $19.48. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 701.50, a PEG ratio of 0.34 and a beta of 2.27. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share. As a group, sell-side analysts expect that Adient plc will post 1.76 EPS for the current year.

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.