Adient (NYSE:ADNT) Stock Rating Lowered 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 stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

ADNT has been the topic of a number of other research reports. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company raised their price target on Adient from $18.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Cfra Research upgraded Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Morgan Stanley raised their price target on Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, August 12th. Finally, UBS Group raised their price objective on Adient from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $21.06.

Adient Stock Performance

ADNT stock opened at $23.07 on Monday. The firm has a market cap of $1.87 billion, a PE ratio of -8.73, a P/E/G ratio of 0.77 and a beta of 1.72. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average of $21.51 and a 200-day moving average of $16.86. Adient has a 12-month low of $10.04 and a 12-month high of $24.25.

Adient (NYSE:ADNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.32 EPS. The firm's revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several large investors have recently made changes to their positions in ADNT. Northern Trust Corp lifted its position in Adient by 6.8% in the 4th quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock valued at $19,464,000 after acquiring an additional 72,077 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Adient during the 1st quarter valued at $1,036,000. Man Group plc purchased a new stake in Adient during the 4th quarter valued at $704,000. SG Americas Securities LLC purchased a new stake in Adient during the 1st quarter valued at $601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adient by 105.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company's stock valued at $6,358,000 after buying an additional 189,574 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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