Barclays Cuts Adient (NYSE:ADNT) Price Target to $24.00

Adient (NYSE:ADNT) had its price target cut by Barclays from $27.00 to $24.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Adient from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Wells Fargo & Company cut their target price on Adient from $31.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Adient in a research report on Wednesday, October 8th. Zacks Research lowered Adient from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Bank of America increased their target price on shares of Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Adient presently has a consensus rating of “Reduce” and a consensus price target of $21.63.

Adient Stock Performance

Adient stock opened at $19.63 on Friday. The stock has a fifty day moving average price of $23.78 and a 200 day moving average price of $20.85. Adient has a 52 week low of $10.04 and a 52 week high of $26.16. The firm has a market capitalization of $1.59 billion, a P/E ratio of -5.88, a PEG ratio of 0.60 and a beta of 1.87. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 1.16.

Adient (NYSE:ADNT) last posted its quarterly earnings results 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 business had revenue of $3.51 billion during the quarter. Equities research analysts anticipate that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its position in Adient by 61.2% in the third quarter. GSA Capital Partners LLP now owns 37,591 shares of the company’s stock valued at $905,000 after acquiring an additional 14,268 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Adient by 3.9% in the third quarter. Vanguard Group Inc. now owns 4,475,944 shares of the company’s stock valued at $107,781,000 after purchasing an additional 166,319 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Adient during the 3rd quarter valued at $2,173,000. PNC Financial Services Group Inc. increased its stake in Adient by 24.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,370 shares of the company’s stock worth $177,000 after buying an additional 1,456 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in Adient by 10.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 316,934 shares of the company’s stock worth $7,632,000 after buying an additional 30,552 shares during the period. 92.44% of the stock is 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.