Adient (NYSE:ADNT) Shares Gap Up After Analyst Upgrade

Adient (NYSE:ADNT)’s stock price gapped up before the market opened on Monday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. The stock had previously closed at $18.52, but opened at $19.47. Morgan Stanley now has a $20.00 price target on the stock, up from their previous price target of $17.00. Adient shares last traded at $19.3360, with a volume of 69,786 shares traded.

A number of other equities analysts have also issued reports on ADNT. Stifel Nicolaus lowered their target price on shares of Adient from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Bank of America increased their price target on shares of Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 10th. Barclays lowered their price objective on shares of Adient from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Wells Fargo & Company reduced their target price on shares of Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Wall Street Zen downgraded shares of Adient from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.06.

Insider Buying and Selling at Adient

In other news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $19.71, for a total transaction of $49,275.00. Following the transaction, the executive vice president directly owned 116,425 shares in the company, valued at $2,294,736.75. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adient

Institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in shares of Adient during the 3rd quarter worth approximately $216,000. PharVision Advisers LLC acquired a new position in Adient during the third quarter worth $351,000. Verition Fund Management LLC raised its position in Adient by 4.5% in the third quarter. Verition Fund Management LLC now owns 97,297 shares of the company’s stock worth $2,343,000 after acquiring an additional 4,180 shares in the last quarter. Quarry LP lifted its holdings in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after acquiring an additional 1,431 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in Adient in the third quarter valued at $766,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Down 0.3%

The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.93 and a current ratio of 1.12. The company has a market capitalization of $1.48 billion, a PE ratio of -5.60, a price-to-earnings-growth ratio of 0.60 and a beta of 1.63. The firm’s 50-day simple moving average is $21.56 and its 200 day simple moving average is $21.67.

Adient (NYSE:ADNT) last announced its quarterly earnings data 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 company had revenue of $3.51 billion during the quarter. As a group, equities research analysts forecast that Adient will post 1.76 earnings per share for the current year.

About Adient

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.