Adient (NYSE:ADNT) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company cut shares of Adient (NYSE:ADNT) from an overweight rating to an equal weight rating in a research report released on Monday, MarketBeat reports. They currently have $20.00 price target on the stock, down from their prior price target of $27.00.

A number of other analysts have also weighed in on the company. Bank of America lowered Adient from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $24.00 in a research note on Thursday, November 21st. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Morgan Stanley lowered their price objective on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Wolfe Research began coverage on shares of Adient in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.50.

Adient Price Performance

Adient stock opened at $17.61 on Monday. Adient has a 12-month low of $17.56 and a 12-month high of $37.19. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $20.39 and a 200-day moving average price of $22.54. The firm has a market capitalization of $1.49 billion, a PE ratio of 76.57, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, equities research analysts forecast that Adient will post 2.04 EPS for the current year.

Insider Buying and Selling

In related news, EVP James Conklin sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the transaction, the executive vice president now owns 51,829 shares in the company, valued at $1,049,537.25. The trade was a 18.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adient

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after acquiring an additional 443 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Adient by 3.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares in the last quarter. Covestor Ltd increased its stake in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares in the last quarter. KBC Group NV raised its holdings in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after buying an additional 1,136 shares during the last quarter. Finally, US Bancorp DE lifted 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 buying an additional 1,588 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Company Profile

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.