Adient (NYSE:ADNT) Price Target Lowered to $32.00 at Wells Fargo & Company

Adient (NYSE:ADNT) had its price target reduced by equities researchers at Wells Fargo & Company from $33.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 31.01% from the stock’s previous close.

Several other research analysts have also issued reports on ADNT. Deutsche Bank Aktiengesellschaft dropped their target price on Adient from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, May 6th. JPMorgan Chase & Co. dropped their price objective on Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Morgan Stanley cut their price objective on Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 10th. Barclays decreased their target price on Adient from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Finally, Bank of America cut their price target on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Adient currently has an average rating of “Hold” and a consensus target price of $39.13.

Adient Price Performance

Shares of Adient stock opened at $24.43 on Tuesday. The stock has a 50 day moving average price of $27.89 and a 200-day moving average price of $31.75. Adient has a one year low of $24.22 and a one year high of $46.51. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.33 and a beta of 2.31. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13.

Adient (NYSE:ADNT) last announced its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts expect that Adient will post 2.26 EPS for the current year.

Insider Transactions at Adient

In other Adient news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Adient

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Adient by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,017,402 shares of the company’s stock valued at $182,434,000 after buying an additional 196,857 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Adient by 5.4% in the fourth 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 last quarter. Franklin Resources Inc. increased its position in shares of Adient by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after purchasing an additional 37,010 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Adient by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after purchasing an additional 246,038 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings 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 valued at $65,147,000 after purchasing an additional 161,579 shares during 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.