JPMorgan Chase & Co. Lowers Adient (NYSE:ADNT) Price Target to $24.00

Adient (NYSE:ADNT) had its target price cut by equities researchers at JPMorgan Chase & Co. from $26.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 26.65% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group dropped their price target on shares of Adient from $28.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Wall Street Zen lowered shares of Adient from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Bank of America upped their price target on shares of Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Adient in a research report on Wednesday, October 8th. Finally, Cfra Research raised shares of Adient from a “moderate sell” rating to a “hold” rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Adient presently has a consensus rating of “Reduce” and an average target price of $22.00.

Adient Stock Down 5.2%

Shares of ADNT traded down $1.03 during midday trading on Thursday, reaching $18.95. The stock had a trading volume of 2,371,306 shares, compared to its average volume of 1,324,682. Adient has a 1-year low of $10.04 and a 1-year high of $26.16. The company’s fifty day simple moving average is $24.01 and its two-hundred day simple moving average is $20.69. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -7.15, a PEG ratio of 0.82 and a beta of 1.87. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 31st. The company reported ($0.13) EPS for the quarter. The company had revenue of $3.51 billion for the quarter. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%. Equities research analysts expect that Adient will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Large investors have recently modified their holdings of the company. Greenwich Wealth Management LLC raised its position in Adient by 1.3% during the second quarter. Greenwich Wealth Management LLC now owns 35,211 shares of the company’s stock valued at $685,000 after acquiring an additional 435 shares in the last quarter. Hantz Financial Services Inc. raised its position in Adient by 62.6% during the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock valued at $27,000 after acquiring an additional 439 shares in the last quarter. Covestor Ltd raised its position in Adient by 15.2% during the first quarter. Covestor Ltd now owns 6,984 shares of the company’s stock valued at $90,000 after acquiring an additional 922 shares in the last quarter. Yousif Capital Management LLC raised its position in Adient by 3.1% during the second quarter. Yousif Capital Management LLC now owns 37,363 shares of the company’s stock valued at $727,000 after acquiring an additional 1,114 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its position in Adient by 3.6% during the second quarter. SummerHaven Investment Management LLC now owns 34,411 shares of the company’s stock valued at $670,000 after acquiring an additional 1,204 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.