Adient (NYSE:ADNT) Upgraded to “Neutral” by BNP Paribas

BNP Paribas upgraded shares of Adient (NYSE:ADNT) from an underperform rating to a neutral rating in a report published on Monday, MarketBeat reports. They currently have $26.00 price target on the stock.

Several other brokerages have also recently issued reports on ADNT. Wells Fargo & Company lowered their target price on shares of Adient from $33.00 to $32.00 and set an overweight rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. lowered their target price on shares of Adient from $40.00 to $37.00 and set a neutral rating for the company in a report on Monday, April 22nd. Bank of America reduced their price target on shares of Adient from $50.00 to $46.00 and set a buy rating for the company in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Adient from $32.00 to $30.00 and set a hold rating for the company in a research report on Monday, May 6th. Finally, Morgan Stanley reduced their price target on shares of Adient from $35.00 to $32.00 and set an underweight rating for the company in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $37.67.

Adient Trading Down 0.2 %

NYSE ADNT opened at $24.67 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. Adient has a 52 week low of $24.22 and a 52 week high of $46.51. The stock has a market capitalization of $2.22 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.33 and a beta of 2.19. The firm has a 50 day moving average of $27.65 and a two-hundred day moving average of $31.54.

Adient (NYSE:ADNT) last issued its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts expect that Adient will post 2.26 EPS for the current fiscal year.

Insider Transactions at Adient

In other news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total value of $121,582.30. Following the completion of the sale, the director now owns 28,352 shares in the company, valued at approximately $819,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Adient

Several hedge funds and other institutional investors have recently made changes to their positions in ADNT. Norges Bank acquired a new stake in shares of Adient in the fourth quarter valued at about $18,040,000. HITE Hedge Asset Management LLC increased its holdings in Adient by 158.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 555,590 shares of the company’s stock valued at $20,201,000 after acquiring an additional 340,618 shares in the last quarter. AQR Capital Management LLC increased its holdings in Adient by 407.3% during the 3rd quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock valued at $14,227,000 after acquiring an additional 311,245 shares in the last quarter. Vanguard Group Inc. increased its holdings in Adient by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company’s stock valued at $91,247,000 after acquiring an additional 271,786 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Adient by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 1,817,382 shares of the company’s stock valued at $66,080,000 after acquiring an additional 270,455 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.