Wells Fargo & Company Lowers Adient (NYSE:ADNT) Price Target to $27.00

Adient (NYSE:ADNT) had its price objective reduced by research analysts at Wells Fargo & Company from $29.00 to $27.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 21.08% from the stock’s previous close.

A number of other research firms have also recently weighed in on ADNT. Barclays dropped their price objective on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Morgan Stanley dropped their price target on shares of Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 price target on the stock in a report on Monday, July 1st. Wolfe Research assumed coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Bank of America lowered their target price on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.63.

Adient Stock Down 1.3 %

ADNT traded down $0.29 during trading on Friday, hitting $22.30. The company had a trading volume of 593,179 shares, compared to its average volume of 1,131,225. The company has a market cap of $2.00 billion, a PE ratio of 13.67, a P/E/G ratio of 0.53 and a beta of 2.16. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. Adient has a 1-year low of $19.40 and a 1-year high of $37.36. The business has a 50-day moving average of $22.70 and a 200-day moving average of $26.85.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Adient’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts forecast that Adient will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several large investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the period. Covestor Ltd boosted its stake in Adient by 201.5% in the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Adient in the first quarter valued at $135,000. TFO Wealth Partners LLC raised its stake in Adient by 41,090.9% during the fourth quarter. TFO Wealth Partners LLC now owns 4,531 shares of the company’s stock worth $1,650,000 after acquiring an additional 4,520 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Adient during the first quarter worth $159,000. 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.