Stifel Nicolaus Initiates Coverage on Adient (NYSE:ADNT)

Key Points

• Stifel Nicolaus has initiated coverage on Adient (NYSE:ADNT) with a "buy" rating and a price target of $27.00, indicating a potential upside of 16.96% from its current price.
• The company reported quarterly earnings of $0.45 per share, missing estimates by $0.02, but saw year-over-year revenue growth of 0.7% with total revenues of $3.74 billion.
• Adient's current consensus rating is "Reduce" with a target price of $21.72, as one analyst rates the stock as a Buy, while others have issued Hold and Sell ratings.

Stifel Nicolaus began coverage on shares of Adient (NYSE:ADNT - Free Report) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $27.00 target price on the stock.

ADNT has been the subject of a number of other reports. Zacks Research cut shares of Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Morgan Stanley raised their target price on shares of Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a research note on Tuesday, August 12th. Wells Fargo & Company boosted their price target on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Bank of America upped their price target on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a research note on Monday, June 16th. Finally, Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Adient currently has a consensus rating of "Reduce" and a consensus price target of $21.72.

Adient Stock Up 5.4%

Shares of NYSE ADNT traded up $1.2770 during mid-day trading on Thursday, hitting $24.8470. 1,204,281 shares of the stock traded hands, compared to its average volume of 1,227,407. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -9.38, a PEG ratio of 0.83 and a beta of 1.72. The stock has a fifty day moving average price of $21.82 and a 200-day moving average price of $17.00. Adient has a 52 week low of $10.04 and a 52 week high of $24.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company posted $0.32 EPS. Adient's revenue for the quarter was up .7% compared to the same quarter last year. Research analysts anticipate that Adient will post 1.76 EPS for the current year.

Institutional Trading of Adient

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in shares of Adient in the fourth quarter worth $25,000. Brooklyn Investment Group increased its holdings in Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock worth $27,000 after buying an additional 2,124 shares in the last quarter. Fifth Third Bancorp raised its position in Adient by 544.4% in the 2nd quarter. Fifth Third Bancorp now owns 2,133 shares of the company's stock worth $42,000 after buying an additional 1,802 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Adient by 991.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock worth $42,000 after buying an additional 1,982 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Adient by 157.5% during the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Adient

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.