Adient (NYSE:ADNT) Shares Gap Down on Analyst Downgrade

Adient plc (NYSE:ADNT - Get Free Report) gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $10.96, but opened at $10.71. Adient shares last traded at $10.73, with a volume of 37,720 shares traded.

A number of other equities analysts have also issued reports on ADNT. Barclays lowered Adient from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Bank of America cut shares of Adient from a "neutral" rating to an "underperform" rating and cut their price target for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. Morgan Stanley decreased their price objective on shares of Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a report on Monday, March 3rd. UBS Group cut their target price on shares of Adient from $20.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on Adient from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADNT. Covestor Ltd lifted its position in Adient by 10.6% in the 4th quarter. Covestor Ltd now owns 6,062 shares of the company's stock valued at $104,000 after purchasing an additional 580 shares during the last quarter. Mariner LLC grew its stake in shares of Adient by 8.6% in the fourth quarter. Mariner LLC now owns 10,157 shares of the company's stock worth $175,000 after purchasing an additional 801 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Adient by 157.5% during the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after purchasing an additional 1,367 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Adient during the fourth quarter valued at about $25,000. Finally, Oarsman Capital Inc. lifted its holdings in Adient by 98.7% in the fourth quarter. Oarsman Capital Inc. now owns 2,966 shares of the company's stock worth $51,000 after purchasing an additional 1,473 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Stock Up 4.4 %

The stock's 50 day moving average is $13.98 and its 200 day moving average is $17.26. The firm has a market cap of $959.94 million, a price-to-earnings ratio of 571.85, a price-to-earnings-growth ratio of 0.34 and a beta of 1.97. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter last year, the business posted $0.31 earnings per share. Analysts forecast that Adient plc will post 1.76 EPS for the current year.

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.