Barclays Trims Adient (NYSE:ADNT) Target Price to $24.00

Adient (NYSE:ADNT) had its price target reduced by Barclays from $29.00 to $24.00 in a research report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on ADNT. BNP Paribas upgraded shares of Adient from an underperform rating to a neutral rating and set a $26.00 price objective on the stock in a report on Monday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of Adient from $32.00 to $31.00 and set a neutral rating on the stock in a report on Monday, July 22nd. UBS Group lowered their target price 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. Bank of America lowered their target price on shares of Adient from $42.00 to $40.00 and set a buy rating on the stock in a report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Adient from $32.00 to $30.00 and set a hold rating on the stock in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $29.38.

Adient Price Performance

NYSE ADNT opened at $20.99 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. Adient has a 12-month low of $20.18 and a 12-month high of $44.39. The company has a market capitalization of $1.89 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19. The firm’s 50 day moving average is $25.03 and its 200-day moving average is $29.37.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 1.04% and a return on equity of 8.72%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business earned $0.98 earnings per share. Adient’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts anticipate that Adient will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in Adient by 959.8% during the fourth quarter. Teacher Retirement System of Texas now owns 109,359 shares of the company’s stock worth $3,976,000 after purchasing an additional 99,040 shares during the period. Foundry Partners LLC bought a new position in Adient during the fourth quarter worth $3,899,000. Franklin Resources Inc. boosted its position in Adient by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after purchasing an additional 37,010 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Adient during the first quarter worth $2,710,000. Finally, Magnetar Financial LLC bought a new position in Adient during the first quarter worth $2,746,000. 92.44% of the stock is owned by institutional investors.

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.