Adient (NYSE:ADNT) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Adient from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $26.30.
• Adient shares opened at $18.51, near the lower end of their 52-week range, with a market capitalization of approximately $1.43 billion. The stock trades below its 50-day and 200-day moving averages.
• The company’s latest quarterly results included $0.48 in EPS, below the $0.56 consensus estimate, though revenue of $3.93 billion exceeded expectations and increased 4.3% year over year.

Adient (NYSE:ADNT - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other research firms also recently issued reports on ADNT. Citigroup decreased their price objective on Adient from $33.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Wells Fargo & Company upped their price target on Adient from $28.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings cut shares of Adient from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. UBS Group decreased their price target on shares of Adient from $34.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, BNP Paribas Exane upgraded shares of Adient from a "neutral" rating to an "outperform" rating and set a $26.00 price objective on the stock in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $26.30.

Adient Price Performance

Shares of NYSE ADNT opened at $18.51 on Wednesday. The company has a fifty day moving average price of $19.65 and a 200 day moving average price of $20.56. The firm has a market cap of $1.43 billion, a PE ratio of 30.86, a PEG ratio of 0.37 and a beta of 1.52. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. Adient has a 1-year low of $17.68 and a 1-year high of $27.32.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.71 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Research analysts predict that Adient will post 2.02 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter Carlin sold 7,843 shares of Adient stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total value of $150,977.75. Following the sale, the director owned 38,835 shares of the company's stock, valued at approximately $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.94% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADNT. Integrated Wealth Concepts LLC bought a new position in Adient in the second quarter valued at approximately $27,000. Corient Private Wealth LP raised its stake in shares of Adient by 5.7% during the 2nd quarter. Corient Private Wealth LP now owns 19,371 shares of the company's stock worth $356,000 after purchasing an additional 1,038 shares in the last quarter. Readystate Asset Management LP bought a new stake in shares of Adient during the 2nd quarter worth approximately $1,078,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Adient in the 2nd quarter valued at approximately $94,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Adient by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company's stock valued at $64,000 after buying an additional 517 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc NYSE: ADNT is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls' automotive seating business.

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