Adient (NYSE:ADNT) Price Target Cut to $27.00

Adient (NYSE:ADNT) had its price target dropped by UBS Group from $31.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 11.71% from the stock’s previous close.

ADNT has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on shares of Adient from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. Morgan Stanley dropped their target price on shares of Adient from $35.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 10th. Barclays lowered their price target on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Tuesday, May 7th. JPMorgan Chase & Co. reduced their price objective on Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Adient presently has a consensus rating of “Hold” and an average price target of $36.22.

Adient Price Performance

Adient stock opened at $24.17 on Wednesday. The business has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $30.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. The company has a market capitalization of $2.17 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.32 and a beta of 2.19. Adient has a one year low of $22.93 and a one year high of $46.51.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Adient will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling at Adient

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co bought a new stake in shares of Adient during the third quarter worth $362,000. Teachers Retirement System of The State of Kentucky increased its holdings in Adient by 97.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,652 shares of the company’s stock worth $1,162,000 after purchasing an additional 15,607 shares in the last quarter. Vanguard Group Inc. increased its holdings in Adient by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company’s stock worth $91,247,000 after purchasing an additional 271,786 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Adient by 28.6% in the 4th quarter. First Hawaiian Bank now owns 19,474 shares of the company’s stock valued at $708,000 after purchasing an additional 4,336 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Adient during the fourth quarter worth about $207,000. 92.44% of the stock is 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.