Morgan Stanley Lowers Adient (NYSE:ADNT) Price Target to $19.00

Adient (NYSE:ADNT) had its price objective reduced by research analysts at Morgan Stanley from $21.00 to $19.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 4.47% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Barclays lowered their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Bank of America lowered their price objective on Adient from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wolfe Research started coverage on Adient in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.13.

Adient Price Performance

NYSE:ADNT opened at $19.89 on Thursday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 86.48, a P/E/G ratio of 0.44 and a beta of 2.18. Adient has a 52-week low of $19.30 and a 52-week high of $37.19. The stock has a fifty day moving average of $21.32 and a 200 day moving average of $23.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $0.51 EPS. Adient’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts expect that Adient will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADNT. Pacer Advisors Inc. lifted its stake in Adient by 38,074.9% in the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after purchasing an additional 5,130,969 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Adient by 45.0% in the third quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock worth $63,771,000 after purchasing an additional 877,142 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Adient by 86.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after purchasing an additional 525,280 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Adient by 9.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after purchasing an additional 442,200 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Adient in the third quarter worth about $6,653,000. Institutional investors own 92.44% of the company’s stock.

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.