Zacks Research Downgrades Adient (NYSE:ADNT) to Strong Sell

Adient (NYSE:ADNT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Morgan Stanley dropped their price objective on Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Wells Fargo & Company lifted their target price on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a research note on Thursday, July 30th. Finally, UBS Group lowered their price target on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and an average price target of $26.60.

Adient Stock Down 2.9%

NYSE:ADNT opened at $19.51 on Monday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 32.52, a P/E/G ratio of 0.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The stock’s fifty day moving average price is $20.16 and its two-hundred day moving average price is $21.44. Adient has a 52-week low of $17.68 and a 52-week high of $27.32.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $0.45 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Adient will post 2.03 EPS for the current year.

Insider Buying and Selling

In related news, EVP Heather M. Tiltmann sold 22,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president directly owned 110,886 shares in the company, valued at approximately $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its stake in shares of Adient by 12.9% in the 4th quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock valued at $35,439,000 after purchasing an additional 210,758 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Adient by 179.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock worth $10,658,000 after purchasing an additional 338,517 shares during the period. Principal Financial Group Inc. grew its stake in Adient by 18.8% during the first quarter. Principal Financial Group Inc. now owns 448,624 shares of the company’s stock worth $9,067,000 after purchasing an additional 71,055 shares during the period. SG Americas Securities LLC grew its stake in Adient by 117.8% during the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock worth $18,464,000 after purchasing an additional 494,054 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Adient in the first quarter worth approximately $1,404,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.