JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Adient (NYSE:ADNT) Stock

Adient (NYSE:ADNT) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $26.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 48.46% from the stock’s previous close.

ADNT has been the topic of several other reports. Weiss Ratings raised shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Citigroup raised shares of Adient from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. BNP Paribas Exane upgraded shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price objective on shares of Adient in a research note on Thursday. Finally, UBS Group dropped their price objective on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.10.

Adient Trading Down 2.9%

NYSE ADNT traded down $0.56 during trading hours on Monday, hitting $18.86. 356,930 shares of the company’s stock were exchanged, compared to its average volume of 1,031,011. The business’s 50 day moving average is $20.57 and its 200-day moving average is $21.55. Adient has a 12-month low of $17.68 and a 12-month high of $27.32. The firm has a market capitalization of $1.48 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 0.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, analysts anticipate that Adient will post 2.08 EPS for the current fiscal year.

Insider Transactions at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,518,221.06. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Adient

Several hedge funds and other institutional investors have recently made changes to their positions in ADNT. Leonteq Securities AG purchased a new stake in Adient during the 4th quarter worth $30,000. Quarry LP raised its position in Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares during the period. Parallel Advisors LLC raised its position in Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Adient during the second quarter worth about $63,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Adient during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.