Barclays Lowers Adient (NYSE:ADNT) Price Target to $25.00

Key Points

• Barclays cut Adient’s price target from $29 to $25 while maintaining an “equal weight” rating, implying about 28% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average target price of $26.90; six analysts rate the stock a Buy, five a Hold, and one a Sell.
• Adient’s latest quarter exceeded revenue expectations at $3.93 billion but missed on earnings, reporting $0.48 per share versus the $0.56 consensus estimate.

Adient (NYSE:ADNT - Get Free Report) had its target price reduced by investment analysts at Barclays from $29.00 to $25.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 28.24% from the company's previous close.

ADNT has been the subject of several other research reports. Stifel Nicolaus lowered their price objective on shares of Adient from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, July 20th. BNP Paribas Exane upgraded shares of Adient from a "neutral" rating to an "outperform" rating and set a $26.00 target price on the stock in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $28.00 price target on shares of Adient in a research note on Thursday. Weiss Ratings raised shares of Adient from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen lowered Adient from a "buy" rating to a "hold" rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adient has a consensus rating of "Hold" and a consensus target price of $26.90.

Adient Stock Up 0.4%

Shares of ADNT stock opened at $19.50 on Monday. The stock has a market cap of $1.53 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.38 and a beta of 1.52. Adient has a twelve month low of $17.68 and a twelve month high of $27.32. The stock has a 50 day moving average of $20.57 and a 200 day moving average of $21.55. 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 (NYSE:ADNT - Get Free Report) last released its quarterly 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 net margin of 0.32% and a return on equity of 7.32%. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Adient will post 2.08 EPS for the current year.

Insider Buying and Selling

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. This represents a 16.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Adient

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADNT. Leonteq Securities AG acquired a new position in shares of Adient in the fourth quarter valued at approximately $30,000. Quarry LP grew its position 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 buying an additional 1,431 shares during the last quarter. Parallel Advisors LLC increased its stake in 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 period. Raymond James Financial Inc. acquired a new position in Adient in the 2nd quarter valued at $63,000. Finally, Los Angeles Capital Management LLC acquired a new position in Adient in the 4th quarter valued at $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

About Adient

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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