Zacks Research lowered shares of Adient (NYSE:ADNT – Free Report) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.
Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Adient in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Adient in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on Adient from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Barclays cut their target price on Adient from $29.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Finally, BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus target price of $26.60.
Check Out Our Latest Analysis on ADNT
Adient Stock Performance
Adient (NYSE:ADNT – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. On average, sell-side analysts predict that Adient will post 2.03 earnings per share for the current year.
Insider Activity at Adient
In related news, EVP Heather M. Tiltmann sold 22,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total transaction of $499,620.00. Following the sale, the executive vice president owned 110,886 shares of the company’s stock, valued at approximately $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in shares of Adient during the 4th quarter worth approximately $30,000. Quarry LP increased its stake in Adient by 163.9% in the 3rd quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Adient during the second quarter worth $63,000. Parallel Advisors LLC raised its holdings in Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after purchasing an additional 517 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Adient during the fourth quarter worth $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.
About Adient
Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.
Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.
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