Adient (NYSE:ADNT) Shares Gap Down After Analyst Downgrade

Shares of Adient plc (NYSE:ADNT) gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $21.00 to $13.00. The stock had previously closed at $10.96, but opened at $10.71. Barclays currently has an equal weight rating on the stock. Adient shares last traded at $10.73, with a volume of 37,720 shares trading hands.

A number of other research firms have also recently commented on ADNT. Morgan Stanley decreased their price target on Adient from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Monday, December 16th. UBS Group decreased their target price on shares of Adient from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Bank of America downgraded shares of Adient from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.00.

Institutional Investors Weigh In On Adient

Several large investors have recently modified their holdings of ADNT. Point72 Hong Kong Ltd acquired a new position in Adient during the 4th quarter worth approximately $25,000. R Squared Ltd purchased a new position in shares of Adient in the 4th quarter valued at about $32,000. Versant Capital Management Inc boosted its holdings in Adient by 10,316.7% during the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after buying an additional 1,857 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after acquiring an additional 1,367 shares during the period. Finally, IFP Advisors Inc grew its holdings in Adient by 6,924.2% in the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after purchasing an additional 2,285 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The firm’s 50-day moving average is $14.21 and its 200 day moving average is $17.45. The firm has a market capitalization of $919.91 million, a PE ratio of 548.00, a price-to-earnings-growth ratio of 0.34 and a beta of 1.97.

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

Adient Company Profile

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.