Adient (NYSE:ADNT) Price Target Cut to $27.00 by Analysts at Citigroup

Adient (NYSE:ADNT) had its target price reduced by analysts at Citigroup from $29.00 to $27.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target would indicate a potential upside of 65.36% from the company’s previous close.

Several other analysts also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Adient from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Zacks Research raised Adient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. dropped their price objective on Adient from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays reduced their target price on shares of Adient from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Finally, Wall Street Zen downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. 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 stock. According to data from MarketBeat.com, Adient presently has a consensus rating of “Hold” and a consensus target price of $24.40.

Adient Price Performance

Shares of Adient stock traded down $0.74 during trading on Friday, hitting $16.33. 1,261,178 shares of the company were exchanged, compared to its average volume of 1,034,785. The company has a quick ratio of 0.91, a current ratio of 1.09 and a debt-to-equity ratio of 1.21. Adient has a fifty-two week low of $15.80 and a fifty-two week high of $27.32. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -68.03, a P/E/G ratio of 0.24 and a beta of 1.64. The firm has a 50 day moving average price of $17.82 and a 200 day moving average price of $20.47.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. Adient’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities analysts expect that Adient will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Adient by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after acquiring an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after purchasing an additional 336,306 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Adient by 61.7% during the 1st quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock worth $16,017,000 after purchasing an additional 302,538 shares during the period. Empowered Funds LLC grew its holdings in shares of Adient by 23.5% during the 1st quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock worth $11,208,000 after purchasing an additional 105,435 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Adient by 179.3% during the 1st 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. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Company Profile

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.