Adient (NYSE:ADNT) Rating Lowered to “Equal Weight” at Wells Fargo & Company

Adient (NYSE:ADNT) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Monday, MarketBeat reports. They presently have a $20.00 price objective on the stock, down from their previous price objective of $27.00. Wells Fargo & Company‘s target price points to a potential upside of 5.49% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price target on shares of Adient in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on Adient in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Morgan Stanley lowered their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and dropped their target price for the company from $30.00 to $24.00 in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.50.

Adient Trading Down 0.6 %

NYSE ADNT opened at $18.96 on Monday. Adient has a 52 week low of $18.53 and a 52 week high of $37.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock’s 50 day moving average price is $20.39 and its two-hundred day moving average price is $22.54. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 82.43, a PEG ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Adient had a net margin of 0.12% and a return on equity of 6.86%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Adient will post 2.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Conklin sold 11,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the sale, the executive vice president now owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

Several institutional investors and hedge funds have recently bought and sold shares of ADNT. CWM LLC increased its holdings in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares in the last quarter. US Bancorp DE boosted its stake in shares of Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the last quarter. KBC Group NV increased its stake in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after buying an additional 1,136 shares during the period. Finally, Covestor Ltd raised its holdings in Adient by 23.2% in the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after buying an additional 1,032 shares during the last quarter. Institutional investors 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.