Adient (NYSE:ADNT) Given New $32.00 Price Target at Wells Fargo & Company

Adient (NYSE:ADNT) had its price objective upped by equities research analysts at Wells Fargo & Company from $28.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 55.30% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $31.00 price target on shares of Adient in a research report on Thursday, May 7th. Citigroup upgraded shares of Adient from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $33.00 in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of Adient from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Bank of America began coverage on shares of Adient in a research report on Wednesday, March 4th. They set an “underperform” rating and a $22.00 price objective for the company. Finally, UBS Group upped their price objective on Adient from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.44.

Adient Stock Performance

ADNT traded up $0.34 during mid-day trading on Thursday, reaching $20.61. 114,768 shares of the company traded hands, compared to its average volume of 1,019,106. The company’s fifty day moving average price is $21.71 and its 200-day moving average price is $21.53. The stock has a market capitalization of $1.62 billion, a P/E ratio of 28.95, a P/E/G ratio of 0.40 and a beta of 1.50. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Adient has a 52-week low of $17.70 and a 52-week high of $27.32.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Adient’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Adient will post 2.1 EPS for the current year.

Insider Transactions at Adient

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the sale, the executive vice president directly owned 110,886 shares of the company’s stock, valued at $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Trading of Adient

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Adient by 11.6% in the first quarter. Royal Bank of Canada now owns 22,429 shares of the company’s stock worth $289,000 after buying an additional 2,331 shares in the last quarter. AQR Capital Management LLC lifted its stake in Adient by 171.1% in the 1st quarter. AQR Capital Management LLC now owns 238,913 shares of the company’s stock worth $2,977,000 after purchasing an additional 150,792 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Adient during the 1st quarter valued at about $236,000. First Trust Advisors LP boosted its holdings in shares of Adient by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 273,823 shares of the company’s stock valued at $5,329,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Amundi purchased a new position in shares of Adient during the second quarter valued at about $269,000. Institutional investors own 92.44% of the company’s stock.

About Adient

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.