Zacks Investment Research upgraded shares of Adient (NYSE:ADNT) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Adient plc is an automotive seating supplier. The company produces and delivers automotive seating for vehicle classes and OEMs. It operates primarily in the Americas, Europe, Africa, the Asia Pacific and China. Adient plc is based in Dublin, Ireland. “
Other equities analysts also recently issued reports about the company. Longbow Research upgraded Adient from a neutral rating to a buy rating and set a $68.00 price target on the stock in a research note on Wednesday, May 9th. Morgan Stanley downgraded Adient from an overweight rating to an equal weight rating and set a $61.00 price target on the stock. in a research note on Wednesday, May 9th. ValuEngine downgraded Adient from a buy rating to a hold rating in a research note on Friday, April 27th. Royal Bank of Canada restated a hold rating and issued a $72.00 price target on shares of Adient in a research note on Monday, April 16th. Finally, Susquehanna Bancshares set a $60.00 price target on Adient and gave the stock a hold rating in a research note on Wednesday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Adient currently has a consensus rating of Hold and a consensus target price of $69.92.
Adient (NYSE:ADNT) last issued its earnings results on Thursday, May 3rd. The company reported $1.85 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.04). Adient had a net margin of 0.98% and a return on equity of 16.65%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. equities research analysts expect that Adient will post 7.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Wednesday, April 18th were paid a $0.275 dividend. The ex-dividend date was Tuesday, April 17th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.92%. Adient’s dividend payout ratio (DPR) is currently 11.76%.
In related news, Director Frederick A. Henderson bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average cost of $60.50 per share, with a total value of $60,500.00. Following the acquisition, the director now owns 6,715 shares in the company, valued at $406,257.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Adient by 57.1% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,341,552 shares of the company’s stock worth $558,251,000 after purchasing an additional 3,394,306 shares during the period. Atlantic Trust Group LLC raised its holdings in Adient by 6,570.9% in the 1st quarter. Atlantic Trust Group LLC now owns 10,540 shares of the company’s stock worth $630,000 after purchasing an additional 10,382 shares during the period. Newtyn Management LLC raised its holdings in Adient by 7.1% in the 1st quarter. Newtyn Management LLC now owns 1,340,000 shares of the company’s stock worth $80,078,000 after purchasing an additional 88,980 shares during the period. Springhouse Capital Management LP raised its holdings in Adient by 195.3% in the 1st quarter. Springhouse Capital Management LP now owns 845,469 shares of the company’s stock worth $50,525,000 after purchasing an additional 559,172 shares during the period. Finally, Soapstone Management L.P. bought a new position in Adient in the 1st quarter worth $5,080,000. 93.02% of the stock is currently owned by institutional investors.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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