Adient (NYSE:ADNT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Adient (NYSE:ADNT) had its price objective increased by analysts at Wells Fargo & Company from $14.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 7.59% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays lowered shares of Adient from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Morgan Stanley decreased their target price on Adient from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Monday, March 3rd. UBS Group lifted their price objective on Adient from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Citigroup initiated coverage on shares of Adient in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.33.

Adient Stock Performance

Shares of ADNT stock opened at $15.80 on Monday. The firm has a 50-day moving average of $12.91 and a 200-day moving average of $16.11. The company has a market cap of $1.33 billion, a P/E ratio of 790.00, a P/E/G ratio of 0.34 and a beta of 1.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. Adient has a one year low of $10.04 and a one year high of $29.28.

Adient (NYSE:ADNT) last posted its earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Several institutional investors have recently bought and sold shares of ADNT. HITE Hedge Asset Management LLC grew its holdings in shares of Adient by 184.2% during the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock valued at $29,837,000 after buying an additional 1,503,817 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Adient by 22.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock worth $57,879,000 after acquiring an additional 823,638 shares during the period. Pzena Investment Management LLC raised its position in shares of Adient by 28.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after acquiring an additional 803,961 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Adient during the 4th quarter worth about $11,395,000. Finally, Millennium Management LLC raised its position in shares of Adient by 2,039.0% during the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after purchasing an additional 581,779 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.