JPMorgan Chase & Co. Cuts Adient (NYSE:ADNT) Price Target to $21.00

Adient (NYSE:ADNT) had its target price trimmed by JPMorgan Chase & Co. from $24.00 to $21.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also weighed in on ADNT. Bank of America lowered Adient from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $24.00 in a report on Thursday, November 21st. Barclays lowered their price target on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. Finally, Morgan Stanley cut their price target on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, Adient presently has an average rating of “Hold” and an average price target of $21.88.

Adient Price Performance

Shares of NYSE:ADNT opened at $18.16 on Monday. Adient has a fifty-two week low of $16.28 and a fifty-two week high of $36.04. The company’s 50-day moving average is $18.01 and its 200 day moving average is $20.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The company has a market capitalization of $1.52 billion, a P/E ratio of 78.93, a price-to-earnings-growth ratio of 0.28 and a beta of 2.16.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a return on equity of 6.86% and a net margin of 0.12%. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities research analysts forecast that Adient will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Adient news, EVP James Conklin sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the sale, the executive vice president now owns 51,829 shares in the company, valued at $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Adient by 9.3% during the third 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 during the last quarter. Pacer Advisors Inc. boosted its holdings in Adient by 38,074.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock valued at $116,110,000 after acquiring an additional 5,130,969 shares during the period. State Street Corp grew its position in Adient by 4.8% during the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock worth $77,719,000 after acquiring an additional 158,017 shares during the last quarter. Pzena Investment Management LLC increased its stake in Adient by 45.0% in the 3rd 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 period. Finally, Charles Schwab Investment Management Inc. increased its stake in Adient by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 963,446 shares of the company’s stock worth $21,745,000 after purchasing an additional 55,387 shares during the period. 92.44% of the stock is currently owned by hedge funds and other 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.