Stifel Nicolaus Cuts Adient (NYSE:ADNT) Price Target to $26.00

Adient (NYSE:ADNT) had its price target trimmed by Stifel Nicolaus from $30.00 to $26.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Citigroup upped their target price on shares of Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Barclays cut their target price on shares of Adient from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Bank of America initiated coverage on shares of Adient in a research note on Wednesday, March 4th. They set an “underperform” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Adient from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Adient currently has a consensus rating of “Hold” and an average target price of $27.78.

Adient Stock Up 0.4%

Shares of ADNT opened at $20.58 on Tuesday. The stock has a market capitalization of $1.61 billion, a PE ratio of -5.68, a P/E/G ratio of 0.46 and a beta of 1.55. Adient has a 1 year low of $11.00 and a 1 year high of $27.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 1.09. The company’s 50-day simple moving average is $22.28 and its 200-day simple moving average is $21.56.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.16. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of Adient by 62.6% during the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after acquiring an additional 439 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Adient during the fourth quarter worth approximately $30,000. Quarry LP grew its position in shares of Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after acquiring an additional 1,431 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Adient during the second quarter worth approximately $63,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Adient during the fourth quarter worth approximately $64,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.