Adient (NYSE:ADNT) Given New $27.00 Price Target at Citigroup

Adient (NYSE:ADNT) had its price objective trimmed by Citigroup from $29.00 to $27.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on ADNT. UBS Group dropped their price objective on shares of Adient from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley reduced their target price on shares of Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Wall Street Zen downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised shares of Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $28.00 price target on shares of Adient in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.40.

Adient Stock Performance

Shares of ADNT traded down $0.74 during mid-day trading on Friday, hitting $16.33. 1,261,178 shares of the company’s stock were exchanged, compared to its average volume of 964,284. 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 fifty-two week low of $15.80 and a fifty-two week high of $27.32. The business’s 50 day moving average is $17.76 and its two-hundred day moving average is $20.45. The firm has a market capitalization of $1.26 billion, a P/E ratio of -68.03, a P/E/G ratio of 0.24 and a beta of 1.64.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.12). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.62 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. On average, equities analysts expect that Adient will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Adient

In related news, Director Peter Carlin sold 7,843 shares of Adient stock in a transaction that occurred on 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 directly owned 38,835 shares in the company, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Adient by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after purchasing an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Adient by 17.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock worth $46,349,000 after buying an additional 336,306 shares during the period. Bank of America Corp DE grew its position in Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after buying an additional 302,538 shares during the period. Empowered Funds LLC increased its holdings in Adient by 23.5% in the first quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock valued at $11,208,000 after buying an additional 105,435 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Adient by 179.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock valued at $10,658,000 after buying an additional 338,517 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.