Wells Fargo & Company Downgrades Adient (NYSE:ADNT) to Equal Weight

Wells Fargo & Company lowered shares of Adient (NYSE:ADNT) from an overweight rating to an equal weight rating in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has $20.00 price target on the stock, down from their prior price target of $27.00.

Several other equities analysts also recently commented on ADNT. Morgan Stanley lowered their price target on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Wolfe Research assumed coverage on Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $24.00 in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.50.

Adient Price Performance

Shares of NYSE:ADNT opened at $17.27 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The stock’s 50 day moving average price is $20.22 and its 200 day moving average price is $22.39. Adient has a 12 month low of $17.12 and a 12 month high of $37.19. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 75.09, a PEG ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT) last released its earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. Equities research analysts anticipate that Adient will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Adient

In other Adient news, EVP James Conklin sold 11,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total value of $232,875.00. Following the transaction, the executive vice president now directly owns 51,829 shares in the company, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

Several hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Adient by 38,074.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after acquiring an additional 5,130,969 shares during the period. Pzena Investment Management LLC boosted its holdings in Adient by 45.0% during the third quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock worth $63,771,000 after buying an additional 877,142 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after acquiring an additional 525,280 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Adient by 9.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock valued at $117,298,000 after acquiring an additional 442,200 shares during the period. Finally, Empowered Funds LLC acquired a new position in Adient during the third quarter valued at approximately $6,653,000. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

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.