Adient (NYSE:ADNT) Cut to Neutral at UBS Group

Adient (NYSE:ADNT) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other equities analysts have also weighed in on ADNT. Morgan Stanley set a $12.00 target price on Adient and gave the stock a “sell” rating in a research report on Wednesday, June 26th. Credit Suisse Group initiated coverage on Adient in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $24.00 target price for the company. Finally, ValuEngine raised Adient from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.47.

Shares of NYSE:ADNT opened at $25.90 on Thursday. Adient has a fifty-two week low of $12.15 and a fifty-two week high of $45.17. The business has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $20.41. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 1.07. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 4.61 and a beta of 3.22.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.07. Adient had a positive return on equity of 8.35% and a negative net margin of 11.00%. The business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Adient’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts predict that Adient will post 1.29 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC bought a new position in Adient in the 2nd quarter worth approximately $753,000. BlackRock Inc. boosted its stake in Adient by 26.7% in the 2nd quarter. BlackRock Inc. now owns 10,228,254 shares of the company’s stock worth $248,239,000 after purchasing an additional 2,153,155 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Adient in the 2nd quarter worth approximately $55,463,000. Amundi Pioneer Asset Management Inc. boosted its stake in Adient by 23.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 14,872 shares of the company’s stock worth $361,000 after purchasing an additional 2,869 shares during the period. Finally, United Services Automobile Association boosted its stake in Adient by 94.8% in the 2nd quarter. United Services Automobile Association now owns 26,029 shares of the company’s stock worth $632,000 after purchasing an additional 12,668 shares during the period. Institutional investors and hedge funds own 97.90% of the company’s stock.

Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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