Adient (NYSE:ADNT) Upgraded to Equal Weight at Morgan Stanley

Adient (NYSE:ADNT) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $20.00 target price on the stock, up from their prior target price of $17.00. Morgan Stanley’s price objective suggests a potential upside of 4.22% from the company’s current price.

ADNT has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on Adient from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company lowered their price target on Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Stifel Nicolaus reduced their price objective on shares of Adient from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Bank of America boosted their price objective on shares of Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, September 10th. Finally, Wall Street Zen lowered shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.06.

Adient Price Performance

Shares of ADNT stock traded up $0.67 during trading hours on Monday, reaching $19.19. 306,211 shares of the company were exchanged, compared to its average volume of 1,314,889. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.12 and a quick ratio of 0.93. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -5.76, a P/E/G ratio of 0.60 and a beta of 1.63. The stock’s fifty day moving average is $21.78 and its two-hundred day moving average is $21.61. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.16.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, May 31st. The company reported ($0.13) EPS for the quarter. Adient had a negative net margin of 1.93% and a positive return on equity of 7.81%. The firm had revenue of $3.51 billion during the quarter. Sell-side analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adient news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total transaction of $49,275.00. Following the sale, the executive vice president directly owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Adient

Hedge funds have recently bought and sold shares of the company. Greenwich Wealth Management LLC raised its stake in Adient by 1.3% in the second quarter. Greenwich Wealth Management LLC now owns 35,211 shares of the company’s stock valued at $685,000 after buying an additional 435 shares during the period. Hantz Financial Services Inc. raised its stake in Adient by 62.6% in the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock valued at $27,000 after purchasing an additional 439 shares in the last quarter. Covestor Ltd lifted its position in Adient by 15.2% during the first quarter. Covestor Ltd now owns 6,984 shares of the company’s stock worth $90,000 after purchasing an additional 922 shares during the period. Yousif Capital Management LLC increased its holdings in Adient by 3.1% in the 2nd quarter. Yousif Capital Management LLC now owns 37,363 shares of the company’s stock valued at $727,000 after buying an additional 1,114 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in shares of Adient by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,411 shares of the company’s stock valued at $670,000 after buying an additional 1,204 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

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.