Bank of America Lowers Adient (NYSE:ADNT) Price Target to $30.00

Adient (NYSE:ADNT) had its target price lowered by research analysts at Bank of America from $35.00 to $30.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 38.82% from the company’s previous close.

ADNT has been the subject of a number of other reports. Morgan Stanley decreased their price target on shares of Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, August 14th. Wolfe Research assumed coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their price target on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group lowered their price objective on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, BNP Paribas upgraded shares of Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.38.

Adient Stock Performance

Shares of ADNT stock traded down $0.64 during trading on Monday, reaching $21.61. The company had a trading volume of 227,890 shares, compared to its average volume of 1,237,853. The firm’s 50 day simple moving average is $21.81 and its two-hundred day simple moving average is $25.47. Adient has a one year low of $19.40 and a one year high of $37.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. The company has a market capitalization of $1.94 billion, a PE ratio of 13.29, a PEG ratio of 0.35 and a beta of 2.16.

Adient (NYSE:ADNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.98 EPS. Sell-side analysts forecast that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

A number of hedge funds have recently made changes to their positions in ADNT. Creative Planning boosted its position in shares of Adient by 138.1% during the 3rd quarter. Creative Planning now owns 36,708 shares of the company’s stock valued at $828,000 after acquiring an additional 21,291 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Adient by 44.1% during the third quarter. Handelsbanken Fonder AB now owns 28,760 shares of the company’s stock worth $649,000 after purchasing an additional 8,800 shares during the period. Algert Global LLC acquired a new stake in Adient during the second quarter valued at approximately $227,000. Susquehanna Fundamental Investments LLC grew its stake in shares of Adient by 85.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock valued at $3,779,000 after purchasing an additional 70,611 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock worth $28,019,000 after buying an additional 525,280 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.