Adient (NYSE:ADNT) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Adient (NYSE:ADNT) from a buy rating to a hold rating in a report released on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Citigroup began coverage on shares of Adient in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 price objective for the company. Barclays cut shares of Adient from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. Wells Fargo & Company upped their price objective on shares of Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $24.00 to $18.00 in a research report on Tuesday, March 4th. Finally, Morgan Stanley decreased their price objective on shares of Adient from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, Adient currently has an average rating of “Hold” and an average target price of $18.17.

Adient Stock Up 3.9%

Shares of Adient stock opened at $19.13 on Friday. The company has a fifty day moving average price of $14.21 and a 200 day moving average price of $15.58. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. Adient has a twelve month low of $10.04 and a twelve month high of $26.59. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 956.50, a price-to-earnings-growth ratio of 0.34 and a beta of 1.64.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.33. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. Equities research analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Adient by 96.5% during the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company’s stock worth $13,828,000 after acquiring an additional 394,111 shares during the period. Northern Trust Corp raised its stake in Adient by 6.8% during the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company’s stock worth $19,464,000 after acquiring an additional 72,077 shares during the period. Pzena Investment Management LLC raised its stake in Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after acquiring an additional 803,961 shares during the period. Quantbot Technologies LP raised its stake in Adient by 263.6% during the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company’s stock worth $1,383,000 after acquiring an additional 58,209 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adient by 105.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company’s stock worth $6,358,000 after acquiring an additional 189,574 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.