Adient (NYSE:ADNT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Adient (NYSE:ADNT) from a strong sell rating to a hold rating in a research note released on Wednesday,Zacks reports.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, July 20th. UBS Group reduced their price target on shares of Adient from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays lowered their price target on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price objective on shares of Adient in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Adient presently has a consensus rating of “Hold” and a consensus price target of $26.30.

Adient Trading Up 1.6%

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

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.Adient’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. Analysts expect that Adient will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 7,843 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the sale, the director directly owned 38,835 shares of the company’s stock, valued at approximately $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of Adient

A number of institutional investors have recently modified their holdings of ADNT. Integrated Wealth Concepts LLC acquired a new stake in Adient in the second quarter valued at approximately $27,000. Corient Private Wealth LP increased its position in shares of Adient by 5.7% during the second 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 acquired a new position in shares of Adient during the second quarter worth $1,078,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Adient during the 2nd quarter valued at $94,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.