Bank of America Downgrades Adient (NYSE:ADNT) to Neutral

Adient (NYSE:ADNT) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $24.00 price objective on the stock, down from their prior price objective of $30.00. Bank of America‘s price objective indicates a potential upside of 24.32% from the company’s current price.

Several other analysts have also issued reports on the company. UBS Group dropped their target price on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wolfe Research began coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. Finally, Morgan Stanley dropped their target price on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.38.

Adient Stock Up 1.1 %

ADNT stock opened at $19.31 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The stock has a market capitalization of $1.64 billion, a P/E ratio of 82.64, a P/E/G ratio of 0.44 and a beta of 2.18. The business has a 50-day moving average of $21.22 and a 200-day moving average of $23.60. Adient has a fifty-two week low of $18.53 and a fifty-two week high of $37.19.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. Adient’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, sell-side analysts anticipate that Adient will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Large investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the period. US Bancorp DE increased its stake in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares during the period. Signaturefd LLC increased its stake in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the period. KBC Group NV increased its stake in shares of 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 purchasing an additional 1,136 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Adient during the first quarter worth approximately $135,000. Institutional investors 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.