JPMorgan Chase & Co. Has Lowered Expectations for Adient (NYSE:ADNT) Stock Price

Adient (NYSE:ADNT) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 40.86% from the company’s previous close.

Several other analysts have also weighed in on the company. Stifel Nicolaus lowered their price objective on Adient from $26.00 to $21.00 and set a “buy” rating for the company in a report on Monday, October 19th. Barclays decreased their target price on Adient from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. UBS Group lowered their price target on Adient from $29.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Zacks Research upgraded Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. Finally, Weiss Ratings lowered Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.40.

Adient Price Performance

Shares of ADNT stock traded down $0.74 during trading hours on Thursday, hitting $16.33. The company’s stock had a trading volume of 1,261,178 shares, compared to its average volume of 964,284. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $17.76 and a 200-day moving average of $20.45. Adient has a twelve month low of $15.80 and a twelve month high of $27.32. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -68.03, a P/E/G ratio of 0.24 and a beta of 1.64.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.12). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities research analysts anticipate that Adient will post 3.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the sale, the director owned 38,835 shares of the company’s stock, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adient

Several hedge funds have recently modified their holdings of the company. Maryland State Retirement & Pension System raised its position in shares of Adient by 47.0% during the third quarter. Maryland State Retirement & Pension System now owns 16,919 shares of the company’s stock worth $285,000 after purchasing an additional 5,410 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Adient by 123.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,278 shares of the company’s stock worth $462,000 after buying an additional 14,512 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Adient during the 3rd quarter valued at $243,000. Vise Technologies Inc. boosted its stake in shares of Adient by 10.6% during the 3rd quarter. Vise Technologies Inc. now owns 14,868 shares of the company’s stock valued at $250,000 after buying an additional 1,426 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its holdings in shares of Adient by 32.6% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 35,281 shares of the company’s stock valued at $594,000 after acquiring an additional 8,668 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.