Adient (NYSE:ADNT) Stock Rating Lowered by Zacks Research

Adient (NYSE:ADNT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adient in a research note on Friday, August 7th. Wells Fargo & Company increased their price target on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. boosted their price objective on Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Adient from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Adient presently has a consensus rating of “Hold” and an average price target of $26.60.

Adient Price Performance

NYSE:ADNT opened at $19.51 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The stock’s 50-day moving average price is $20.16 and its 200-day moving average price is $21.44. The stock has a market capitalization of $1.50 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 0.41 and a beta of 1.52.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a return on equity of 7.32% and a net margin of 0.32%.The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the firm posted $0.45 EPS. Adient’s revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that Adient will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Heather M. Tiltmann sold 22,000 shares of Adient stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the transaction, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.94% of the stock is owned by corporate insiders.

Institutional Trading of Adient

A number of institutional investors have recently bought and sold shares of the business. UBS Group AG grew its stake in Adient by 12.9% during the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock worth $35,439,000 after buying an additional 210,758 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Adient by 179.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after buying an additional 338,517 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Adient by 18.8% in the first quarter. Principal Financial Group Inc. now owns 448,624 shares of the company’s stock valued at $9,067,000 after buying an additional 71,055 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Adient by 117.8% in the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after acquiring an additional 494,054 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Adient in the first quarter valued at approximately $1,404,000. 92.44% of the stock is 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.