Adient (NYSE:ADNT) Cut to Underperform at Bank of America

Bank of America lowered shares of Adient (NYSE:ADNT) from a neutral rating to an underperform rating in a research note released on Tuesday morning, MarketBeat.com reports. The firm currently has $18.00 target price on the stock, down from their prior target price of $24.00.

Several other research analysts have also issued reports on ADNT. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $20.00 in a report on Monday, December 16th. Barclays reduced their price target on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Morgan Stanley dropped their price objective on shares of Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and an average price target of $20.88.

Adient Stock Performance

NYSE:ADNT opened at $15.51 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. Adient has a twelve month low of $13.64 and a twelve month high of $35.94. The company has a fifty day moving average of $16.97 and a 200-day moving average of $19.39. The firm has a market capitalization of $1.30 billion, a P/E ratio of 775.25, a P/E/G ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Adient will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in Adient in the 4th quarter worth about $25,000. Versant Capital Management Inc grew its holdings in shares of Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after acquiring an additional 1,857 shares in the last quarter. R Squared Ltd bought a new position in shares of Adient in the fourth quarter valued at approximately $32,000. IFP Advisors Inc increased its position in shares of Adient by 6,924.2% during the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after acquiring an additional 2,285 shares during the last quarter. Finally, US Bancorp DE boosted its position in Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares during the last quarter. 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.