Barclays Cuts Adient (NYSE:ADNT) Price Target to $26.00

Adient (NYSE:ADNT) had its target price decreased by Barclays from $27.00 to $26.00 in a report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on ADNT. Bank of America initiated coverage on Adient in a report on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Citigroup upped their target price on shares of Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. JPMorgan Chase & Co. increased their target price on shares of Adient from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Stifel Nicolaus raised their price target on shares of Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.44.

Adient Price Performance

NYSE:ADNT opened at $20.82 on Monday. The stock has a 50 day moving average of $22.63 and a two-hundred day moving average of $21.85. Adient has a 12 month low of $10.04 and a 12 month high of $27.32. The firm has a market cap of $1.63 billion, a P/E ratio of -5.75, a price-to-earnings-growth ratio of 0.44 and a beta of 1.56. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.16. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.45 billion. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. On average, analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Adient

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC raised its holdings in shares of Adient by 5.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after acquiring an additional 899 shares during the period. Invesco Ltd. grew its holdings in shares of Adient by 38.6% in the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after purchasing an additional 445,343 shares during the period. Vident Advisory LLC grew its holdings in shares of Adient by 25.6% in the fourth quarter. Vident Advisory LLC now owns 34,794 shares of the company’s stock valued at $667,000 after purchasing an additional 7,086 shares during the period. Mackenzie Financial Corp acquired a new stake in Adient during the fourth quarter worth about $605,000. Finally, XTX Topco Ltd acquired a new stake in Adient during the fourth quarter worth about $935,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Adient

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.