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

Shares of Adient plc (NYSE:ADNT) gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $14.74, but opened at $13.85. Adient shares last traded at $13.80, with a volume of 201,100 shares traded.

Several other equities analysts have also recently commented on ADNT. Barclays cut their target price on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective 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. Morgan Stanley decreased their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday. Bank of America lowered Adient from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $24.00 to $18.00 in a research note on Tuesday. Finally, UBS Group raised their price objective on Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.88.

Institutional Investors Weigh In On Adient

A number of institutional investors have recently added to or reduced their stakes in ADNT. Covestor Ltd raised its holdings in shares of Adient by 10.6% in the 4th quarter. Covestor Ltd now owns 6,062 shares of the company’s stock worth $104,000 after buying an additional 580 shares in the last quarter. Mariner LLC grew its position in Adient by 8.6% in the fourth quarter. Mariner LLC now owns 10,157 shares of the company’s stock valued at $175,000 after acquiring an additional 801 shares during the period. KBC Group NV raised its stake in Adient by 51.8% during the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after acquiring an additional 1,136 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Adient during the fourth quarter valued at $25,000. Finally, Oarsman Capital Inc. boosted its stake in shares of Adient by 98.7% in the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock valued at $51,000 after purchasing an additional 1,473 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Trading Up 6.1 %

The firm has a market cap of $1.25 billion, a P/E ratio of 747.25, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The company’s fifty day moving average price is $17.02 and its two-hundred day moving average price is $19.42.

Adient (NYSE:ADNT) last issued its quarterly earnings data 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 positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, sell-side analysts predict that Adient plc will post 1.76 EPS 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.