Adient PLC (NYSE:ADNT) – Research analysts at KeyCorp boosted their Q3 2019 earnings estimates for shares of Adient in a note issued to investors on Sunday, March 17th. KeyCorp analyst J. Picariello now anticipates that the company will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.58. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Adient’s Q4 2019 earnings at $0.72 EPS and FY2019 earnings at $1.90 EPS.
A number of other research analysts have also recently commented on the company. Goldman Sachs Group restated a “hold” rating on shares of Adient in a research note on Wednesday, January 16th. Bank of America set a $22.00 target price on Adient and gave the company a “hold” rating in a research note on Tuesday, January 22nd. Deutsche Bank initiated coverage on Adient in a research note on Thursday, December 13th. They issued a “hold” rating for the company. Robert W. Baird cut Adient from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $25.00 to $14.00 in a research note on Friday, January 4th. Finally, Royal Bank of Canada cut Adient from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $17.00 to $16.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Adient presently has a consensus rating of “Hold” and an average price target of $31.00.
Adient (NYSE:ADNT) last released its earnings results on Thursday, February 7th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.17). The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Adient had a negative net margin of 8.54% and a positive return on equity of 13.15%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS.
A number of hedge funds have recently bought and sold shares of ADNT. Private Advisor Group LLC increased its position in Adient by 29.5% during the 3rd quarter. Private Advisor Group LLC now owns 7,445 shares of the company’s stock valued at $293,000 after buying an additional 1,697 shares in the last quarter. American Century Companies Inc. increased its position in Adient by 4.6% during the 3rd quarter. American Century Companies Inc. now owns 48,739 shares of the company’s stock valued at $1,916,000 after buying an additional 2,152 shares in the last quarter. SG Americas Securities LLC bought a new position in Adient during the 3rd quarter valued at approximately $473,000. Prudential Financial Inc. increased its position in Adient by 288.5% during the 3rd quarter. Prudential Financial Inc. now owns 318,585 shares of the company’s stock valued at $12,523,000 after buying an additional 236,583 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Adient by 79.1% during the 3rd quarter. Rhumbline Advisers now owns 155,710 shares of the company’s stock valued at $6,121,000 after buying an additional 68,763 shares in the last quarter.
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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