Adient (NYSE:ADNT) Coverage Initiated at Wolfe Research

Wolfe Research began coverage on shares of Adient (NYSE:ADNT) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a peer perform rating on the stock.

Other equities analysts have also recently issued reports about the stock. BNP Paribas upgraded shares of Adient from an underperform rating to a neutral rating and set a $26.00 price target on the stock in a report on Monday, July 1st. Bank of America decreased their price target on shares of Adient from $42.00 to $40.00 and set a buy rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Adient from $31.00 to $27.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their price target on shares of Adient from $32.00 to $21.00 and set an underweight rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company cut their target price on shares of Adient from $33.00 to $32.00 and set an overweight rating on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Adient has an average rating of Hold and an average price target of $28.00.

Adient Stock Down 5.2 %

ADNT opened at $21.12 on Thursday. The company has a market cap of $1.90 billion, a PE ratio of 12.96, a P/E/G ratio of 0.58 and a beta of 2.19. The business has a 50 day moving average price of $23.28 and a two-hundred day moving average price of $27.62. Adient has a 52 week low of $20.18 and a 52 week high of $39.93. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.30). The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Adient will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ADNT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adient by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,242 shares of the company’s stock worth $32,333,000 after purchasing an additional 21,323 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Adient by 959.8% in the fourth quarter. Teacher Retirement System of Texas now owns 109,359 shares of the company’s stock valued at $3,976,000 after buying an additional 99,040 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Adient by 30.3% during the 4th quarter. BNP Paribas Financial Markets now owns 78,454 shares of the company’s stock worth $2,853,000 after purchasing an additional 18,234 shares in the last quarter. Jump Financial LLC grew its stake in Adient by 3.1% in the 4th quarter. Jump Financial LLC now owns 51,100 shares of the company’s stock worth $1,858,000 after acquiring an additional 1,547 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Adient by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,017,402 shares of the company’s stock valued at $182,434,000 after purchasing an additional 196,857 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.