Morgan Stanley Has Lowered Expectations for Adient (NYSE:ADNT) Stock Price

Adient (NYSE:ADNT) had its price objective decreased by Morgan Stanley from $21.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 9.09% from the company’s current price.

Several other analysts have also commented on the stock. Bank of America dropped their price target on shares of Adient from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wolfe Research assumed coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Wells Fargo & Company reduced their target price on Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Barclays dropped their price target on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Adient currently has a consensus rating of “Hold” and an average target price of $25.13.

Adient Stock Performance

Shares of NYSE ADNT traded down $0.32 during trading on Thursday, reaching $20.90. 246,195 shares of the company traded hands, compared to its average volume of 1,230,051. The stock has a market cap of $1.82 billion, a P/E ratio of 90.87, a PEG ratio of 0.41 and a beta of 2.18. The firm’s fifty day simple moving average is $21.38 and its 200 day simple moving average is $23.98. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. Adient has a 12-month low of $19.30 and a 12-month high of $37.19.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The company had revenue of $3.56 billion during 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%. Adient’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. As a group, research analysts anticipate that Adient will post 2.67 earnings per share for the current fiscal year.

Institutional Trading of Adient

Several hedge funds have recently made changes to their positions in ADNT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adient by 66.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,461 shares of the company’s stock worth $4,050,000 after acquiring an additional 71,651 shares during the period. Public Sector Pension Investment Board purchased a new stake in Adient in the 3rd quarter valued at about $4,175,000. BNP Paribas Financial Markets lifted its position in Adient by 144.9% in the third quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock valued at $4,750,000 after buying an additional 124,539 shares during the last quarter. Quantbot Technologies LP boosted its stake in Adient by 19.4% during the third quarter. Quantbot Technologies LP now owns 22,085 shares of the company’s stock worth $498,000 after buying an additional 3,587 shares during the period. Finally, Mirabella Financial Services LLP raised its stake in shares of Adient by 82.6% in the 3rd quarter. Mirabella Financial Services LLP now owns 42,202 shares of the company’s stock valued at $952,000 after acquiring an additional 19,091 shares during the period. Hedge funds and other 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.