Morgan Stanley Upgrades Adient (NYSE:ADNT) to Equal Weight

Adient (NYSE:ADNT) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a $20.00 price objective on the stock, up from their previous price objective of $17.00. Morgan Stanley’s target price would indicate a potential upside of 6.95% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus cut their price target on shares of Adient from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Adient from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company lowered their target price on Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Barclays cut their price target on Adient from $27.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Bank of America upped their price objective on Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Adient has an average rating of “Hold” and an average price target of $23.06.

Adient Stock Performance

ADNT stock opened at $18.70 on Monday. Adient has a 1-year low of $10.04 and a 1-year high of $26.16. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 1.16. The firm has a market cap of $1.48 billion, a PE ratio of -5.60, a P/E/G ratio of 0.60 and a beta of 1.63. The business’s 50-day moving average price is $21.56 and its two-hundred day moving average price is $21.67.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. Adient had a positive return on equity of 7.81% and a negative net margin of 1.93%.The business had revenue of $3.51 billion during the quarter. As a group, research analysts forecast that Adient will post 1.76 earnings per share for the current year.

Insider Transactions at Adient

In related news, EVP Michel Pierre Rose Berthelin sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $19.71, for a total transaction of $49,275.00. Following the completion of the transaction, the executive vice president directly owned 116,425 shares of the company’s stock, valued at approximately $2,294,736.75. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HITE Hedge Asset Management LLC grew its position in Adient by 184.2% in the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock valued at $29,837,000 after acquiring an additional 1,503,817 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Adient in the 2nd quarter valued at approximately $28,839,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adient by 439.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock valued at $22,801,000 after purchasing an additional 954,441 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Adient by 22.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock worth $57,879,000 after purchasing an additional 823,638 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Adient by 921.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock valued at $19,561,000 after purchasing an additional 732,837 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.