Adient (NYSE:ADNT) Given New $21.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley lowered Adient’s price target to $21 from $22 while maintaining an “equal weight” rating, implying roughly 5% upside from the stock’s $20 price.
• Analyst sentiment remains mixed: Adient has a consensus “Hold” rating and an average price target of $26.60, with six Buy, four Hold, and one Sell rating.
• Adient’s latest quarter included $0.48 in earnings per share, below the $0.56 consensus estimate, though revenue rose 4.3% year over year to $3.93 billion.

Adient (NYSE:ADNT - Get Free Report) had its price objective decreased by equities research analysts at Morgan Stanley from $22.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 4.97% from the stock's current price.

Several other research firms have also recently commented on ADNT. Stifel Nicolaus reduced their price target on Adient from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, July 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Adient in a report on Friday, August 7th. BNP Paribas Exane upgraded Adient from a "neutral" rating to an "outperform" rating and set a $26.00 price objective for the company in a research report on Thursday, July 30th. Barclays decreased their target price on shares of Adient from $29.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $28.00 price target on shares of Adient in a research note on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.60.

Adient Stock Performance

Adient stock traded down $0.10 during trading hours on Tuesday, reaching $20.00. 35,485 shares of the stock were exchanged, compared to its average volume of 1,031,228. The stock has a market cap of $1.54 billion, a P/E ratio of 33.34, a P/E/G ratio of 0.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Adient has a 52-week low of $17.68 and a 52-week high of $27.32. The firm's 50 day moving average is $20.21 and its 200 day moving average is $21.45.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a return on equity of 7.32% and a net margin of 0.32%.The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business posted $0.45 EPS. The firm's revenue was up 4.3% on a year-over-year basis. Analysts predict that Adient will post 2.03 EPS for the current fiscal year.

Insider Transactions at Adient

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the sale, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.94% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADNT. Leonteq Securities AG purchased a new stake in shares of Adient in the 4th quarter worth about $30,000. Quarry LP grew its stake in Adient by 163.9% in the 3rd quarter. Quarry LP now owns 2,304 shares of the company's stock valued at $55,000 after acquiring an additional 1,431 shares during the last quarter. Parallel Advisors LLC increased its holdings in Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company's stock valued at $64,000 after acquiring an additional 517 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Adient during the 2nd quarter valued at about $63,000. Finally, Los Angeles Capital Management LLC acquired a new position in Adient during the fourth quarter worth about $64,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Adient Company Profile

Adient plc NYSE: ADNT is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient's product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.

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