Morgan Stanley Cuts Adient (NYSE:ADNT) Price Target to $16.00

Adient (NYSE:ADNT) had its price target decreased by stock analysts at Morgan Stanley from $17.00 to $16.00 in a report released on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 4.09% from the stock’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America cut Adient from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. UBS Group upped their target price on Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Barclays lowered Adient from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Adient currently has a consensus rating of “Hold” and an average target price of $18.22.

Adient Stock Down 2.8%

Shares of NYSE ADNT traded down $0.45 on Monday, reaching $15.37. 243,991 shares of the company’s stock traded hands, compared to its average volume of 1,406,021. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 769.10, a price-to-earnings-growth ratio of 0.34 and a beta of 1.60. The business’s 50 day simple moving average is $12.91 and its two-hundred day simple moving average is $16.11. Adient has a 12 month low of $10.04 and a 12 month high of $29.28.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.33. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in shares of Adient by 10.6% during the 4th quarter. Covestor Ltd now owns 6,062 shares of the company’s stock worth $104,000 after acquiring an additional 580 shares during the period. Mariner LLC increased its stake in Adient by 8.6% during the fourth quarter. Mariner LLC now owns 10,157 shares of the company’s stock worth $175,000 after acquiring an additional 801 shares during the last quarter. GAMMA Investing LLC raised its position in Adient by 157.5% in the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock valued at $29,000 after purchasing an additional 1,367 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Adient in the 4th quarter valued at $25,000. Finally, Oarsman Capital Inc. increased its position in shares of Adient by 98.7% during the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock worth $51,000 after purchasing an additional 1,473 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.