Adient (NYSE:ADNT) Price Target Cut to $34.00 by Analysts at Barclays

Adient (NYSE:ADNT) had its price objective cut by equities research analysts at Barclays from $37.00 to $34.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.13% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Monday. Bank of America lowered their price objective on Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on Adient from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. lowered 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Adient presently has an average rating of “Hold” and an average target price of $39.63.

Adient Price Performance

Shares of Adient stock opened at $28.54 on Tuesday. 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 twelve month low of $26.97 and a twelve month high of $46.51. The business has a 50-day moving average price of $31.47 and a 200 day moving average price of $33.16. The firm has a market cap of $2.60 billion, a PE ratio of 17.51, a P/E/G ratio of 0.29 and a beta of 2.39.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.54 earnings per share 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 firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the previous year, the business earned $0.32 EPS. Adient’s revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Adient will post 2.53 earnings per share for the current fiscal year.

Insider Transactions at Adient

In other news, EVP Heather M. Tiltmann sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total transaction of $336,800.00. Following the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at approximately $1,874,931.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its holdings in Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock valued at $630,000 after acquiring an additional 310 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Adient by 4.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,820 shares of the company’s stock valued at $287,000 after acquiring an additional 368 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Adient by 2.0% in the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock valued at $688,000 after acquiring an additional 417 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Adient by 1.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,555 shares of the company’s stock valued at $1,562,000 after acquiring an additional 571 shares during the last quarter. Finally, Watershed Asset Management L.L.C. lifted its holdings in Adient by 8.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock valued at $284,000 after acquiring an additional 595 shares during the last quarter. 92.44% of the stock is currently 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.