Adient (NYSE:ADNT) Now Covered by Analysts at Bank of America

Investment analysts at Bank of America assumed coverage on shares of Adient (NYSE:ADNT) in a report released on Wednesday. The firm set an “underperform” rating and a $22.00 price target on the stock. Bank of America‘s target price indicates a potential downside of 1.75% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus lifted their target price on Adient from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Citigroup lifted their price objective on shares of Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Barclays increased their target price on shares of Adient from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. UBS Group raised their target price on shares of Adient from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Morgan Stanley boosted their price target on Adient from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.67.

Adient Stock Performance

Shares of NYSE:ADNT traded down $0.21 during trading on Wednesday, reaching $22.39. 180,972 shares of the stock were exchanged, compared to its average volume of 1,144,144. Adient has a 12 month low of $10.04 and a 12 month high of $27.32. The stock has a 50-day moving average price of $22.57 and a 200-day moving average price of $22.39. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1.75 billion, a PE ratio of -6.18, a PEG ratio of 0.62 and a beta of 1.56.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.45 billion. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts expect that Adient will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Adient by 11.6% during the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock worth $289,000 after purchasing an additional 2,331 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Adient by 171.1% during the 1st quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock worth $2,977,000 after buying an additional 150,792 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Adient during the 1st quarter worth $236,000. Bank of Montreal Can lifted its position in shares of Adient by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 16,208 shares of the company’s stock worth $315,000 after buying an additional 2,238 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in Adient in the second quarter valued at about $243,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.