Barclays Lowers Adient (NYSE:ADNT) Price Target to $21.00

Adient (NYSE:ADNT) had its price target dropped by equities researchers at Barclays from $24.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 22.59% from the stock’s current price.

A number of other research analysts have also recently issued reports on ADNT. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a report on Saturday, December 28th. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $27.00 to $20.00 in a report on Monday, December 16th. Finally, Morgan Stanley reduced their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.13.

Adient Price Performance

Shares of ADNT stock traded down $0.34 during trading hours on Wednesday, hitting $17.13. 131,265 shares of the company’s stock were exchanged, compared to its average volume of 1,082,414. The stock’s 50-day moving average is $18.38 and its 200-day moving average is $20.90. 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 has a market cap of $1.45 billion, a price-to-earnings ratio of 74.33, a price-to-earnings-growth ratio of 0.29 and a beta of 2.16. Adient has a 52 week low of $16.28 and a 52 week high of $36.04.

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

Insider Buying and Selling at Adient

In other news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 51,829 shares of the company’s stock, valued at $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Adient

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after purchasing an additional 1,857 shares during the last quarter. US Bancorp DE increased its holdings in Adient by 583.8% in the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares during the last quarter. Signaturefd LLC increased its holdings in Adient by 493.8% in the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares during the last quarter. KBC Group NV increased its holdings in Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after buying an additional 1,032 shares in the last quarter. 92.44% of the stock is currently owned by 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.