Adient (NYSE:ADNT) Price Target Cut to $32.00

Adient (NYSE:ADNT - Free Report) had its price target reduced by Morgan Stanley from $35.00 to $32.00 in a report published on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts also recently weighed in on ADNT. Bank of America decreased their price target on shares of Adient from $50.00 to $46.00 and set a buy rating for the company in a research note on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Adient from $40.00 to $37.00 and set a neutral rating for the company in a research note on Monday, April 22nd. Barclays decreased their target price on shares of Adient from $37.00 to $34.00 and set an equal weight rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Adient from $32.00 to $30.00 and set a hold rating for the company in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Adient from $38.00 to $33.00 and set an overweight rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $39.25.

Adient Trading Up 0.0 %

NYSE ADNT traded up $0.01 during mid-day trading on Friday, reaching $28.91. 1,012,184 shares of the stock were exchanged, compared to its average volume of 1,055,281. Adient has a one year low of $26.97 and a one year high of $46.51. The stock has a 50 day simple moving average of $31.37 and a 200-day simple moving average of $33.13. The stock has a market cap of $2.60 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.29 and a beta of 2.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91.

Adient (NYSE:ADNT - Get Free Report) last announced its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the firm earned $0.32 earnings per share. Adient's quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Adient will post 2.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Carlin sold 4,207 shares of the business's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now directly owns 28,352 shares in the company, valued at $819,372.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the business's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total value of $336,800.00. Following the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at $1,874,931.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter Carlin sold 4,207 shares of the business's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the completion of the transaction, the director now owns 28,352 shares in the company, valued at $819,372.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Adient in the fourth quarter valued at approximately $18,040,000. HITE Hedge Asset Management LLC raised its position in shares of Adient by 158.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 555,590 shares of the company's stock valued at $20,201,000 after purchasing an additional 340,618 shares during the period. AQR Capital Management LLC raised its position in shares of Adient by 407.3% in the third quarter. AQR Capital Management LLC now owns 387,662 shares of the company's stock valued at $14,227,000 after purchasing an additional 311,245 shares during the period. Pzena Investment Management LLC raised its position in shares of Adient by 25.0% in the third quarter. Pzena Investment Management LLC now owns 1,546,927 shares of the company's stock valued at $56,772,000 after purchasing an additional 309,359 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Adient by 12.3% in the third quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company's stock valued at $91,247,000 after purchasing an additional 271,786 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.