Adient (NYSE:ADNT) Rating Lowered to “Strong Sell” at Zacks Research

Adient (NYSE:ADNT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

A number of other brokerages also recently commented on ADNT. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research report on Thursday, July 30th. UBS Group dropped their price target on Adient from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. cut their price objective on Adient from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $28.00 price objective on shares of Adient in a research note on Thursday, August 6th. Finally, Morgan Stanley decreased their target price on Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.40.

Adient Stock Down 1.2%

ADNT opened at $16.17 on Monday. Adient has a fifty-two week low of $15.80 and a fifty-two week high of $27.32. The firm has a market capitalization of $1.25 billion, a P/E ratio of -67.36, a PEG ratio of 0.20 and a beta of 1.64. The company’s 50-day moving average is $17.65 and its 200 day moving average is $20.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.09 and a quick ratio of 0.90.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.62 billion. Adient had a positive return on equity of 7.35% and a negative net margin of 0.11%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts expect that Adient will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Adient

In other news, Director Peter Carlin sold 7,843 shares of the firm’s stock in a transaction that occurred on 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 owned 38,835 shares in the company, valued at $747,573.75. This trade represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adient

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in Adient in the second quarter worth $27,000. Farther Finance Advisors LLC lifted its position in shares of Adient by 126.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock valued at $31,000 after buying an additional 1,026 shares during the last quarter. Parallel Advisors LLC lifted its position 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 buying an additional 517 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Adient during the 2nd quarter worth $94,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Adient by 13.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,273 shares of the company’s stock worth $139,000 after acquiring an additional 1,004 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.