Adient (NYSE:ADNT) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research has downgraded Adient (NYSE: ADNT) from a "strong-buy" rating to a "hold" rating, indicating a more cautious outlook on the stock.
• The stock has seen a range of ratings from various analysts, including upgrades and price target increases, with a current consensus rating of "Reduce" and an average price target of $21.06.
• Adient's most recent earnings report showed a quarterly revenue of $3.74 billion, exceeding expectations, but the EPS of $0.45 missed the consensus estimate of $0.47.

Adient (NYSE:ADNT - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, August 18th,Zacks.com reports.

A number of other equities research analysts also recently issued reports on ADNT. Bank of America increased their price objective on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a research report on Monday, June 16th. Citigroup initiated coverage on Adient in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective on the stock. UBS Group increased their price objective on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wells Fargo & Company increased their price objective on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Adient has a consensus rating of "Reduce" and an average price target of $21.72.

Adient Stock Performance

Shares of Adient stock traded up $0.41 during trading hours on Monday, reaching $25.27. The company had a trading volume of 530,441 shares, compared to its average volume of 1,431,432. Adient has a one year low of $10.04 and a one year high of $25.28. The business has a fifty day simple moving average of $21.82 and a 200 day simple moving average of $17.01. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The firm has a market cap of $2.05 billion, a PE ratio of -9.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.72.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $0.32 earnings per share. Adient's revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in shares of Adient by 6.8% in the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock worth $19,464,000 after buying an additional 72,077 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Adient in the first quarter worth about $1,036,000. Entropy Technologies LP purchased a new position in shares of Adient in the first quarter worth about $138,000. Man Group plc purchased a new position in shares of Adient in the fourth quarter worth about $704,000. Finally, SG Americas Securities LLC purchased a new position in shares of Adient in the first quarter worth about $601,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

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.