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

Adient (NYSE:ADNT) had its price objective boosted by stock analysts at Bank of America from $15.00 to $17.50 in a report released on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective suggests a potential downside of 7.48% from the stock’s current price.

ADNT has been the subject of a number of other research reports. Citigroup began coverage on Adient in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 price target for the company. Wells Fargo & Company lifted their target price on shares of Adient from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Wall Street Zen lowered shares of Adient from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays cut shares of Adient from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley reduced their target price on Adient from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, Adient presently has an average rating of “Hold” and an average price target of $18.17.

Adient Price Performance

ADNT stock traded up $0.51 on Monday, reaching $18.92. 101,743 shares of the company’s stock were exchanged, compared to its average volume of 1,435,167. Adient has a twelve month low of $10.04 and a twelve month high of $26.59. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average of $14.03 and a 200-day moving average of $15.58. The firm has a market cap of $1.59 billion, a PE ratio of 946.25, a P/E/G ratio of 0.34 and a beta of 1.64.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.33. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities analysts predict that Adient will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new position in shares of Adient in the 1st quarter valued at $342,000. Strs Ohio purchased a new stake in Adient during the first quarter valued at about $585,000. Plato Investment Management Ltd purchased a new position in shares of Adient in the 1st quarter worth about $67,000. SageView Advisory Group LLC lifted its stake in shares of Adient by 25.2% in the 1st quarter. SageView Advisory Group LLC now owns 50,912 shares of the company’s stock valued at $655,000 after purchasing an additional 10,251 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Adient by 2.1% in the 1st quarter. Empowered Funds LLC now owns 316,292 shares of the company’s stock valued at $4,068,000 after purchasing an additional 6,401 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.