BNP Paribas Upgrades Adient (NYSE:ADNT) to “Neutral”

Adient (NYSE:ADNT) was upgraded by BNP Paribas from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $26.00 target price on the stock. BNP Paribas’ price target points to a potential upside of 4.63% from the company’s previous close.

A number of other equities research analysts also recently weighed in on ADNT. Deutsche Bank Aktiengesellschaft dropped their price objective on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, May 6th. Barclays reduced their price objective on Adient from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. JPMorgan Chase & Co. dropped their target price on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Bank of America dropped their target price on 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 dropped their price objective on Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.67.

Adient Stock Performance

NYSE:ADNT opened at $24.85 on Monday. The stock’s fifty day moving average is $27.57 and its 200 day moving average is $31.47. Adient has a fifty-two week low of $24.22 and a fifty-two week high of $46.51. The firm has a market capitalization of $2.23 billion, a PE ratio of 15.25, a PEG ratio of 0.33 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the company posted $0.32 EPS. Adient’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Adient will post 2.26 earnings per share for the current year.

Insider Buying and Selling at Adient

In related news, Director Peter Carlin sold 4,207 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the sale, the director now owns 28,352 shares in the company, valued at approximately $819,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

Several large investors have recently bought and sold shares of ADNT. Partnership Wealth Management LLC acquired a new stake in shares of Adient during the fourth quarter worth about $83,000. Covestor Ltd boosted its stake in shares of Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Adient during the 1st quarter worth approximately $135,000. Headlands Technologies LLC purchased a new stake in shares of Adient during the 1st quarter worth approximately $159,000. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Adient during the 4th quarter worth approximately $207,000. 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.