Brokerages Set Adient plc (NYSE:ADNT) Target Price at $24.38

Shares of Adient plc (NYSE:ADNT) have received a consensus recommendation of “Reduce” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $23.50.

Several research firms have recently issued reports on ADNT. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $27.00 to $20.00 in a report on Monday, December 16th. Morgan Stanley lowered their price target on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Bank of America cut Adient from a “buy” rating to a “neutral” rating and cut their price target for the company from $30.00 to $24.00 in a report on Thursday, November 21st. StockNews.com lowered Adient from a “buy” rating to a “hold” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th.

Insiders Place Their Bets

In other news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $20.25, for a total value of $232,875.00. Following the completion of the transaction, the executive vice president now owns 51,829 shares in the company, valued at approximately $1,049,537.25. The trade was a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in Adient by 44.5% during the 2nd 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. SG Americas Securities LLC lifted its position in shares of Adient by 7.7% during the second quarter. SG Americas Securities LLC now owns 31,979 shares of the company’s stock worth $790,000 after purchasing an additional 2,296 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Adient by 3.2% during the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Adient by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company’s stock valued at $22,829,000 after purchasing an additional 5,426 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Adient by 16.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,532 shares of the company’s stock valued at $507,000 after purchasing an additional 2,853 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Price Performance

Shares of NYSE:ADNT opened at $16.85 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $19.94 and a 200 day moving average price of $22.24. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 73.26, a PEG ratio of 0.32 and a beta of 2.15. Adient has a twelve month low of $16.77 and a twelve month high of $37.19.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business earned $0.51 earnings per share. Adient’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts predict that Adient will post 2.04 earnings per share for the current year.

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.