Adient (NYSE:ADNT) Given New $26.00 Price Target at JPMorgan Chase & Co.

Adient (NYSE:ADNT) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $28.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.62% from the stock’s current price.

Several other research firms also recently commented on ADNT. Morgan Stanley increased their target price on shares of Adient from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Wells Fargo & Company lowered their price objective on Adient from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings restated a “sell (d)” rating on shares of Adient in a report on Wednesday, January 21st. Stifel Nicolaus decreased their price objective on shares of Adient from $30.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Bank of America assumed coverage on Adient in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adient currently has an average rating of “Hold” and a consensus price target of $27.56.

Adient Stock Up 0.3%

Shares of NYSE ADNT traded up $0.06 during mid-day trading on Thursday, reaching $21.74. The company had a trading volume of 234,972 shares, compared to its average volume of 1,043,429. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 1.09. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -6.01, a PEG ratio of 0.51 and a beta of 1.55. The stock has a fifty day moving average of $21.93 and a two-hundred day moving average of $21.46. Adient has a 12-month low of $11.89 and a 12-month high of $27.32.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.19 by $0.16. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. Adient’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. As a group, equities research analysts expect that Adient will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Adient

A number of hedge funds have recently made changes to their positions in ADNT. Pictet Asset Management Holding SA raised its holdings in shares of Adient by 17.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 14,350 shares of the company’s stock worth $290,000 after buying an additional 2,119 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Adient during the first quarter worth $701,000. SG Americas Securities LLC lifted its holdings in shares of Adient by 117.8% during the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after acquiring an additional 494,054 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Adient by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after purchasing an additional 899 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Adient by 38.6% in the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock worth $30,671,000 after purchasing an additional 445,343 shares during the last quarter. 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.