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

Adient (NYSE:ADNT) had its target price decreased by Barclays from $29.00 to $24.00 in a research report sent to investors on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts also recently commented on ADNT. UBS Group reduced their target price on Adient from $27.00 to $24.00 and set a neutral rating for the company in a report on Wednesday, August 7th. BNP Paribas raised Adient from an underperform rating to a neutral rating and set a $26.00 target price for the company in a report on Monday, July 1st. JPMorgan Chase & Co. reduced their target price on Adient from $32.00 to $31.00 and set a neutral rating for the company in a report on Monday, July 22nd. Bank of America reduced their target price on Adient from $42.00 to $40.00 and set a buy rating for the company in a report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Adient from $32.00 to $30.00 and set a hold rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $29.38.

Adient Trading Down 1.4 %

Adient stock opened at $20.99 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.46 and a beta of 2.19. Adient has a 1 year low of $20.18 and a 1 year high of $44.39. The firm’s 50 day moving average price is $25.03 and its two-hundred day moving average price is $29.37.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts predict that Adient will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Edgestream Partners L.P. acquired a new position in Adient in the 2nd quarter worth about $3,156,000. Dimensional Fund Advisors LP increased its position in Adient by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock worth $125,480,000 after purchasing an additional 61,342 shares during the last quarter. Greenwich Wealth Management LLC increased its position in Adient by 19.3% in the 2nd quarter. Greenwich Wealth Management LLC now owns 23,191 shares of the company’s stock worth $573,000 after purchasing an additional 3,747 shares during the last quarter. American Century Companies Inc. increased its position in Adient by 1,033.5% in the 2nd quarter. American Century Companies Inc. now owns 107,135 shares of the company’s stock worth $2,647,000 after purchasing an additional 97,683 shares during the last quarter. Finally, Foundry Partners LLC increased its position in Adient by 5.3% in the 2nd quarter. Foundry Partners LLC now owns 126,279 shares of the company’s stock worth $3,120,000 after purchasing an additional 6,361 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.