Adient (NYSE:ADNT) Price Target Cut to $27.00 by Analysts at Citigroup

Adient (NYSE:ADNT) had its target price lowered by equities research analysts at Citigroup from $29.00 to $27.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 65.36% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $28.00 price objective on shares of Adient in a research note on Thursday, August 6th. BNP Paribas Exane upgraded Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a research note on Thursday, July 30th. Zacks Research upgraded Adient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 16th. Stifel Nicolaus dropped their target price on Adient from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Finally, JPMorgan Chase & Co. reduced their price target on Adient from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.40.

Adient Trading Down 4.3%

Shares of ADNT stock traded down $0.74 during mid-day trading on Friday, reaching $16.33. The company’s stock had a trading volume of 1,261,178 shares, compared to its average volume of 1,034,785. The company has a quick ratio of 0.91, a current ratio of 1.09 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.26 billion, a PE ratio of -68.03, a price-to-earnings-growth ratio of 0.24 and a beta of 1.64. The company’s 50 day simple moving average is $17.82 and its 200-day simple moving average is $20.47. Adient has a 12-month low of $15.80 and a 12-month high of $27.32.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). Adient had a positive return on equity of 7.35% and a negative net margin of 0.11%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts predict that Adient will post 3.11 EPS for the current fiscal year.

Insider Buying and Selling at Adient

In related news, Director Peter Carlin sold 7,843 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the sale, the director directly owned 38,835 shares of the company’s stock, valued at approximately $747,573.75. This trade represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Adient

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

About Adient

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.