Morgan Stanley Issues Positive Forecast for Adient (NYSE:ADNT) Stock Price

Key Points

• Morgan Stanley has raised its price target for Adient from $16.00 to $17.00, indicating a potential downside of 22.39% from the stock's previous close.
• Analysts have mixed ratings for Adient, with two sell ratings, eight hold ratings, and one buy rating, and an average price target of $21.06.
• Adient's recent earnings report revealed an earnings per share (EPS) miss of $0.02, reporting $0.45 EPS versus analysts' expectations of $0.47, with revenue of $3.74 billion beating expectations.

Adient (NYSE:ADNT - Free Report) had its price objective increased by Morgan Stanley from $16.00 to $17.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities analysts also recently commented on ADNT. UBS Group raised their price objective on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Cfra Research raised Adient from a "moderate sell" rating to a "hold" rating in a research note on Thursday, August 7th. Barclays lifted their price objective on Adient from $18.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America lifted their price objective 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 raised Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.06.

Adient Stock Down 1.4%

ADNT stock traded down $0.34 during mid-day trading on Tuesday, reaching $23.61. The company had a trading volume of 805,265 shares, compared to its average volume of 1,297,041. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $24.25. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -8.91, a price-to-earnings-growth ratio of 0.80 and a beta of 1.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12. The firm has a fifty day simple moving average of $21.26 and a 200 day simple moving average of $16.79.

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

Hedge Funds Weigh In On Adient

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

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.