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

Adient plc (NYSE:ADNT)’s stock price gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $21.00 to $13.00. The stock had previously closed at $10.96, but opened at $10.71. Barclays currently has an equal weight rating on the stock. Adient shares last traded at $10.73, with a volume of 37,720 shares trading hands.

A number of other research firms have also recently issued reports on ADNT. JPMorgan Chase & Co. decreased their price target on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $27.00 to $20.00 in a research note on Monday, December 16th. UBS Group reduced their price objective on Adient from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Morgan Stanley dropped their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, March 3rd. Finally, Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $18.00 in a research note on Tuesday, March 4th. 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 stock. According to MarketBeat, Adient has a consensus rating of “Hold” and a consensus price target of $19.00.

Institutional Investors Weigh In On Adient

A number of hedge funds have recently modified their holdings of ADNT. GAMMA Investing LLC raised its holdings in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock valued at $29,000 after acquiring an additional 1,367 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Adient by 69.6% in the first quarter. Harbor Capital Advisors Inc. now owns 355,525 shares of the company’s stock valued at $4,572,000 after purchasing an additional 145,851 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Adient by 44.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 13,318 shares of the company’s stock worth $229,000 after buying an additional 4,077 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Adient by 105.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company’s stock worth $6,358,000 after buying an additional 189,574 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in Adient in the 4th quarter valued at $463,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Stock Down 2.1 %

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The business has a 50 day simple moving average of $14.44 and a 200-day simple moving average of $17.54. The firm has a market capitalization of $900.27 million, a price-to-earnings ratio of 534.35, a P/E/G ratio of 0.34 and a beta of 1.97.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (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 last year, the firm posted $0.31 EPS. On average, equities 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.