Wells Fargo & Company Has Lowered Expectations for Adient (NYSE:ADNT) Stock Price
by Michael Walen · The Markets DailyAdient (NYSE:ADNT – Get Free Report) had its target price cut by analysts at Wells Fargo & Company from $29.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 42.46% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Adient from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of Adient from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, February 5th. Wall Street Zen raised shares of Adient from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Barclays decreased their target price on Adient from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.44.
View Our Latest Stock Analysis on Adient
Adient Stock Up 2.3%
Adient stock traded up $0.44 during midday trading on Tuesday, hitting $19.65. The stock had a trading volume of 111,596 shares, compared to its average volume of 1,097,064. The business has a fifty day moving average price of $22.68 and a 200 day moving average price of $21.88. Adient has a 12 month low of $10.04 and a 12 month high of $27.32. The stock has a market cap of $1.54 billion, a P/E ratio of -5.44, a P/E/G ratio of 0.44 and a beta of 1.55. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17.
Adient (NYSE:ADNT – Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the business posted $0.27 EPS. Adient’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts predict that Adient will post 1.76 EPS for the current year.
Institutional Trading of Adient
Several hedge funds have recently bought and sold shares of ADNT. Royal Bank of Canada lifted its holdings in Adient by 11.6% in the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock worth $289,000 after purchasing an additional 2,331 shares during the period. AQR Capital Management LLC increased its stake in Adient by 171.1% during the 1st quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock valued at $2,977,000 after buying an additional 150,792 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Adient during the 1st quarter worth about $236,000. JPMorgan Chase & Co. raised its position in shares of Adient by 16.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,462,162 shares of the company’s stock worth $28,454,000 after buying an additional 203,849 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Adient by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 169,256 shares of the company’s stock worth $3,294,000 after acquiring an additional 7,482 shares during the period. 92.44% of the stock is currently owned by institutional investors.
About Adient
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.