Adient (NYSE:ADNT) Price Target Cut to $19.00 by Analysts at Morgan Stanley

Adient (NYSE:ADNT) had its target price reduced by Morgan Stanley from $21.00 to $19.00 in a report published on Thursday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America dropped their target price on Adient from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wolfe Research initiated coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price target on shares of Adient in a report on Tuesday, September 10th. JPMorgan Chase & Co. lowered their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price target on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.13.

Adient Price Performance

NYSE:ADNT traded down $0.51 during mid-day trading on Thursday, reaching $19.89. The stock had a trading volume of 487,106 shares, compared to its average volume of 1,232,859. The firm has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $23.98. The stock has a market capitalization of $1.73 billion, a P/E ratio of 88.70, a P/E/G ratio of 0.44 and a beta of 2.18. Adient has a one year low of $19.30 and a one year high of $37.19. 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 posted its earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, analysts expect that Adient will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Adient

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased 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 period. Pzena Investment Management LLC grew its holdings in shares of 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. increased its stake in Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after buying an additional 525,280 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Adient by 9.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock valued at $117,298,000 after buying an additional 442,200 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Adient in the 3rd quarter valued at about $6,653,000. 92.44% of the stock is owned by institutional investors.

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.