Adient (NYSE:ADNT) Given New $27.00 Price Target at Wells Fargo & Company

Adient (NYSE:ADNT) had its target price cut by Wells Fargo & Company from $29.00 to $27.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on ADNT. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price objective on shares of Adient from $31.00 to $27.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Wolfe Research began coverage on shares of Adient in a research note on Thursday, September 5th. They issued a peer perform rating for the company. Bank of America reduced their price target on Adient from $42.00 to $40.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered their price objective on Adient from $32.00 to $21.00 and set an underweight rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $26.63.

Adient Price Performance

Shares of ADNT stock opened at $22.12 on Friday. The company’s 50-day simple moving average is $22.62 and its two-hundred day simple moving average is $26.57. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. Adient has a one year low of $19.40 and a one year high of $37.36. The company has a market capitalization of $1.99 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.53 and a beta of 2.16.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a return on equity of 6.34% and a net margin of 0.50%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Adient will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Adient

A number of institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in shares of Adient by 2.0% in the first quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock worth $688,000 after buying an additional 417 shares during the last quarter. CWM LLC boosted its position in Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Adient by 6.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock worth $275,000 after purchasing an additional 501 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Adient by 3.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after purchasing an additional 556 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Adient by 1.3% in the 1st quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock valued at $1,686,000 after purchasing an additional 643 shares during the period. 92.44% of the stock is owned by hedge funds and other 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.