Bank of America Cuts Adient (NYSE:ADNT) Price Target to $30.00

Adient (NYSE:ADNT) had its price objective trimmed by Bank of America from $35.00 to $30.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ADNT has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. UBS Group reduced their price objective on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Wolfe Research started coverage on shares of Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. BNP Paribas raised shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Monday, July 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.38.

Adient Stock Up 1.3 %

Shares of ADNT stock opened at $21.63 on Monday. Adient has a 12 month low of $19.40 and a 12 month high of $37.19. The stock has a market cap of $1.94 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.35 and a beta of 2.16. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $25.28.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts expect that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Adient by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after purchasing an additional 61,342 shares during the last quarter. Vanguard Group Inc. lifted its position in Adient by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock valued at $99,348,000 after purchasing an additional 246,038 shares during the last quarter. Pzena Investment Management LLC lifted its position in Adient by 8.9% during the first quarter. Pzena Investment Management LLC now owns 1,978,961 shares of the company’s stock valued at $65,147,000 after purchasing an additional 161,579 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Adient by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,010 shares of the company’s stock valued at $63,012,000 after purchasing an additional 25,534 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Adient by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,616,457 shares of the company’s stock valued at $39,943,000 after purchasing an additional 17,833 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.