Adient (NYSE:ADNT) Lowered to Strong Sell Rating by Zacks Research

Adient (NYSE:ADNT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also commented on ADNT. JPMorgan Chase & Co. increased their price objective on shares of Adient from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Morgan Stanley cut their target price on Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday. UBS Group reduced their target price on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wells Fargo & Company increased their price target on Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen lowered Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus price target of $26.60.

Adient Trading Down 2.9%

Shares of Adient stock opened at $19.51 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The stock has a 50 day moving average price of $20.16 and a two-hundred day moving average price of $21.44. The stock has a market capitalization of $1.50 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 0.41 and a beta of 1.52.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that Adient will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adient

A number of large investors have recently modified their holdings of ADNT. Vanguard Group Inc. lifted its holdings in shares of Adient by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock worth $89,809,000 after acquiring an additional 208,938 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Adient by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after purchasing an additional 211,843 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adient by 17.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after purchasing an additional 336,306 shares during the last quarter. UBS Group AG grew its holdings in shares of Adient by 12.9% during the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock valued at $35,439,000 after purchasing an additional 210,758 shares during the last quarter. Finally, Invesco Ltd. raised its position in Adient by 38.6% in the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after purchasing an additional 445,343 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.