Adient (NYSE:ADNT) Price Target Raised to $32.00

Adient (NYSE:ADNT) had its target price raised by equities researchers at Wells Fargo & Company from $28.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 55.30% from the stock’s previous close.

Several other equities analysts have also commented on ADNT. JPMorgan Chase & Co. lowered their price objective on shares of Adient from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Barclays boosted their target price on shares of Adient from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Bank of America assumed coverage on Adient in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price target for the company. Finally, Stifel Nicolaus set a $28.00 price objective on Adient in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.44.

Adient Price Performance

Shares of ADNT traded up $0.34 during mid-day trading on Thursday, hitting $20.61. 114,768 shares of the stock were exchanged, compared to its average volume of 1,019,106. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The company has a market cap of $1.62 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 0.40 and a beta of 1.50. Adient has a 52-week low of $17.70 and a 52-week high of $27.32. The firm has a 50-day moving average of $21.71 and a two-hundred day moving average of $21.53.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a net margin of 0.39% and a return on equity of 7.28%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period last year, the firm posted $0.69 earnings per share. Adient’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Adient will post 2.1 earnings per share for the current year.

Insider Activity

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the completion of the sale, the executive vice president owned 110,886 shares in the company, valued at approximately $2,518,221.06. This trade represents a 16.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Trading of Adient

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADNT. Vanguard Group Inc. raised its holdings in shares of Adient by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock worth $89,809,000 after buying an additional 208,938 shares during the period. Dimensional Fund Advisors LP grew its position in Adient by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after acquiring an additional 211,843 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Adient by 17.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after acquiring an additional 336,306 shares during the last quarter. UBS Group AG increased its stake in Adient by 12.9% in the fourth quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock worth $35,439,000 after purchasing an additional 210,758 shares during the period. Finally, Invesco Ltd. increased its stake in Adient by 38.6% in the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after purchasing an additional 445,343 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.