Adient (NYSE:ADNT) Price Target Cut to $27.00

Adient (NYSE:ADNT) had its price objective cut by JPMorgan Chase & Co. from $31.00 to $27.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Adient from $33.00 to $32.00 and set an overweight rating on the stock in a research report on Tuesday, June 25th. Bank of America reduced their price target on shares of Adient from $42.00 to $40.00 and set a buy rating for the company in a research note on Monday, July 22nd. Barclays decreased their price objective on shares of Adient from $29.00 to $24.00 and set an equal weight rating for the company in a report on Thursday. BNP Paribas raised shares of Adient from an underperform rating to a neutral rating and set a $26.00 target price for the company in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Adient from $32.00 to $30.00 and set a hold rating on the stock in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $29.38.

Adient Price Performance

Shares of NYSE ADNT opened at $20.99 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13. The company has a 50 day simple moving average of $25.03 and a two-hundred day simple moving average of $29.37. Adient has a fifty-two week low of $20.18 and a fifty-two week high of $44.39. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.46 and a beta of 2.19.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business earned $0.98 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts expect that Adient will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADNT. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Adient by 2.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,451 shares of the company’s stock valued at $1,580,000 after purchasing an additional 896 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Adient by 18.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,991 shares of the company’s stock valued at $254,000 after buying an additional 1,109 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Adient in the 4th quarter worth $956,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Adient by 12.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,205 shares of the company’s stock worth $771,000 after buying an additional 2,314 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Adient by 20.3% during the fourth quarter. Federated Hermes Inc. now owns 208,182 shares of the company’s stock valued at $7,569,000 after acquiring an additional 35,117 shares during the period. 92.44% of the stock is currently 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.