Wells Fargo & Company Trims Adient (NYSE:ADNT) Target Price to $27.00

Adient (NYSE:ADNT) had its target price reduced 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 analysts have also recently issued reports on the stock. UBS Group decreased their target price on shares of Adient from $27.00 to $24.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley decreased their price objective on Adient from $32.00 to $21.00 and set an underweight rating on the stock in a research report on Wednesday, August 14th. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an equal weight rating for the company in a report on Thursday, August 8th. BNP Paribas raised Adient from an underperform rating to a neutral rating and set a $26.00 target price on the stock in a research report on Monday, July 1st. Finally, Wolfe Research started coverage on shares of Adient in a research note on Thursday, September 5th. They set a peer perform rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $26.63.

Adient Stock Performance

NYSE ADNT opened at $22.67 on Friday. 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 1-year low of $19.40 and a 1-year high of $37.36. The business has a 50 day simple moving average of $22.67 and a two-hundred day simple moving average of $26.67. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.91, a P/E/G ratio of 0.53 and a beta of 2.16.

Adient (NYSE:ADNT) last posted its earnings results 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). The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. On average, research analysts predict that Adient will post 1.77 EPS for the current fiscal year.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Adient by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock worth $125,480,000 after acquiring an additional 61,342 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Adient by 5.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company’s stock worth $162,495,000 after purchasing an additional 229,963 shares during the period. Franklin Resources Inc. raised its position in Adient by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock valued at $117,558,000 after purchasing an additional 37,010 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Adient by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after buying an additional 246,038 shares during the period. Finally, Pzena Investment Management LLC grew its position in shares of Adient by 8.9% during the 1st quarter. Pzena Investment Management LLC now owns 1,978,961 shares of the company’s stock worth $65,147,000 after buying an additional 161,579 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

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.