Adient (NYSE:ADNT) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Adient (NYSE:ADNT) from a buy rating to a hold rating in a report released on Friday morning.

A number of other research analysts also recently commented on ADNT. Morgan Stanley lowered their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target on Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. UBS Group dropped their price objective on Adient from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Barclays cut shares of Adient from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. Finally, Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $24.00 to $18.00 in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.00.

Adient Price Performance

Shares of ADNT opened at $11.44 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. The company has a market capitalization of $959.94 million, a price-to-earnings ratio of 571.85, a P/E/G ratio of 0.34 and a beta of 1.97. The business’s 50-day moving average is $13.98 and its 200-day moving average is $17.23. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $31.19.

Adient (NYSE:ADNT) last released its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $0.31 earnings per share. Equities research analysts expect that Adient will post 1.76 EPS for the current fiscal year.

Institutional Trading of Adient

A number of hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC raised its position in shares of Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock valued at $62,535,000 after buying an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Adient in the 4th quarter worth approximately $11,395,000. Millennium Management LLC lifted its position in shares of Adient by 2,039.0% in the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after acquiring an additional 581,779 shares during the period. HITE Hedge Asset Management LLC grew its holdings in shares of Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock worth $14,065,000 after purchasing an additional 449,272 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Adient by 96.5% during the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company’s stock valued at $13,828,000 after purchasing an additional 394,111 shares during the period. 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.