Adient (NYSE:ADNT) Given New $19.00 Price Target at Morgan Stanley

Adient (NYSE:ADNT) had its price target cut by Morgan Stanley from $21.00 to $19.00 in a research note published on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

ADNT has been the topic of several other reports. JPMorgan Chase & Co. reduced their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. Wells Fargo & Company dropped their price objective on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. UBS Group reduced their price objective on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.13.

Adient Stock Down 2.5 %

NYSE:ADNT opened at $19.89 on Thursday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 86.48, a price-to-earnings-growth ratio of 0.46 and a beta of 2.18. Adient has a twelve month low of $19.30 and a twelve month high of $37.19. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $23.84.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Analysts anticipate that Adient will post 2.27 EPS for the current year.

Hedge Funds Weigh In On Adient

Several hedge funds and other institutional investors have recently modified their holdings of ADNT. ProShare Advisors LLC increased its holdings in shares of Adient by 2.0% in the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock valued at $688,000 after purchasing an additional 417 shares during the period. CWM LLC boosted its position in Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after buying an additional 443 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Adient by 3.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock worth $449,000 after buying an additional 556 shares during the period. Sei Investments Co. raised its position in Adient by 1.3% during the 1st quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock worth $1,686,000 after buying an additional 643 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after acquiring an additional 1,032 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.