Morgan Stanley Cuts Adient (NYSE:ADNT) Price Target to $19.00

Adient (NYSE:ADNT) had its price objective dropped by equities research analysts at Morgan Stanley from $21.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 9.09% from the stock’s current price.

ADNT has been the topic of several other reports. Wells Fargo & Company dropped their price target on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group cut their price target on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Wolfe Research began coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.13.

Adient Stock Down 1.5 %

Shares of NYSE:ADNT traded down $0.32 during trading on Thursday, hitting $20.90. The company’s stock had a trading volume of 246,195 shares, compared to its average volume of 1,230,051. The company has a market capitalization of $1.82 billion, a PE ratio of 90.87, a P/E/G ratio of 0.41 and a beta of 2.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. Adient has a fifty-two week low of $19.30 and a fifty-two week high of $37.19. The business has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $23.98.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, research analysts expect that Adient will post 2.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADNT. ProShare Advisors LLC grew its holdings in Adient by 2.0% during the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after acquiring an additional 417 shares during the period. CWM LLC increased its holdings in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Adient by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares during the period. Sei Investments Co. boosted its holdings in Adient by 1.3% during the first quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock worth $1,686,000 after buying an additional 643 shares in the last quarter. Finally, Covestor Ltd grew its position in Adient by 23.2% during the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after buying an additional 1,032 shares during the period. Institutional investors and hedge funds 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.