Bank of America Raises Adient (NYSE:ADNT) Price Target to $17.50

Adient (NYSE:ADNT) had its price target upped by Bank of America from $15.00 to $17.50 in a report released on Monday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Adient from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. UBS Group raised their price objective on shares of Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their target price on Adient from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Barclays lowered Adient from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. Finally, Citigroup began coverage on Adient in a report on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.17.

Adient Price Performance

Adient stock opened at $18.92 on Monday. The business has a 50 day simple moving average of $14.49 and a 200 day simple moving average of $15.63. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.90. The company has a market capitalization of $1.59 billion, a PE ratio of -5.91, a price-to-earnings-growth ratio of 0.41 and a beta of 1.64. Adient has a one year low of $10.04 and a one year high of $26.59.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.33. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in shares of Adient during the fourth quarter worth approximately $25,000. Brooklyn Investment Group grew its holdings in Adient by 23,600.0% during the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company’s stock worth $27,000 after acquiring an additional 2,124 shares during the period. GAMMA Investing LLC grew its holdings in Adient by 157.5% during the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after acquiring an additional 1,367 shares during the period. IFP Advisors Inc raised its position in shares of Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after acquiring an additional 2,285 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after purchasing an additional 2,435 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.