Adient (NYSE:ADNT) Price Target Lowered to $24.00 at Barclays

Adient (NYSE:ADNT) had its price target cut by Barclays from $27.00 to $24.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. Bank of America upped their target price on shares of Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Adient from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley lifted their target price on Adient from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, August 12th. Finally, Cfra Research raised Adient from a “moderate sell” rating to a “hold” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $21.63.

Adient Trading Up 3.4%

ADNT stock traded up $0.65 during midday trading on Friday, reaching $19.63. The company’s stock had a trading volume of 1,838,636 shares, compared to its average volume of 934,447. Adient has a 1 year low of $10.04 and a 1 year high of $26.16. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -5.88, a PEG ratio of 0.65 and a beta of 1.87. The stock has a fifty day simple moving average of $23.78 and a two-hundred day simple moving average of $20.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $3.51 billion for the quarter. Adient had a negative net margin of 1.93% and a positive return on equity of 7.81%. On average, equities research analysts predict that Adient will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ADNT. Jump Financial LLC grew its position in shares of Adient by 38.1% during the 1st quarter. Jump Financial LLC now owns 226,173 shares of the company’s stock valued at $2,909,000 after acquiring an additional 62,444 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Adient in the 1st quarter worth about $1,036,000. Vanguard Group Inc. boosted its position in Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company’s stock worth $44,820,000 after purchasing an additional 53,101 shares in the last quarter. Entropy Technologies LP acquired a new stake in Adient in the first quarter valued at approximately $138,000. Finally, HITE Hedge Asset Management LLC increased its position in shares of Adient by 184.2% in the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock valued at $29,837,000 after buying an additional 1,503,817 shares in the last quarter. 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.