Barclays Cuts Adient (NYSE:ADNT) Price Target to $34.00

Adient (NYSE:ADNT) had its target price reduced by Barclays from $37.00 to $34.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Adient from $40.00 to $37.00 and set a neutral rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company dropped their price objective on shares of Adient from $38.00 to $33.00 and set an overweight rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Adient from $32.00 to $30.00 and set a hold rating for the company in a report on Monday. Finally, Bank of America dropped their price objective on shares of Adient from $50.00 to $46.00 and set a buy rating for the company in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Adient has a consensus rating of Hold and a consensus price target of $39.63.

Adient Stock Up 1.1 %

Shares of ADNT opened at $28.88 on Tuesday. The firm has a fifty day moving average price of $31.37 and a 200-day moving average price of $33.13. The company has a current ratio of 1.13, a quick ratio of 0.91 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $2.59 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.29 and a beta of 2.39. Adient has a 12-month low of $26.97 and a 12-month high of $46.51.

Adient (NYSE:ADNT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.80 billion. Adient had a net margin of 1.04% and a return on equity of 8.72%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Equities research analysts expect that Adient will post 2.53 earnings per share for the current year.

Insider Activity at Adient

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of Adient stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total value of $336,800.00. Following the transaction, the executive vice president now directly owns 55,669 shares in the company, valued at approximately $1,874,931.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Trading of Adient

A number of institutional investors have recently bought and sold shares of ADNT. Norges Bank purchased a new stake in Adient during the fourth quarter worth $18,040,000. HITE Hedge Asset Management LLC boosted its stake in shares of Adient by 158.4% during the fourth quarter. HITE Hedge Asset Management LLC now owns 555,590 shares of the company’s stock valued at $20,201,000 after acquiring an additional 340,618 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Adient by 407.3% during the third quarter. AQR Capital Management LLC now owns 387,662 shares of the company’s stock valued at $14,227,000 after acquiring an additional 311,245 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of Adient by 25.0% during the third quarter. Pzena Investment Management LLC now owns 1,546,927 shares of the company’s stock valued at $56,772,000 after acquiring an additional 309,359 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Adient by 12.3% during the third quarter. Vanguard Group Inc. now owns 2,486,307 shares of the company’s stock valued at $91,247,000 after acquiring an additional 271,786 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Adient

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.