Adient (NYSE:ADNT) Given New $20.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for Adient from $17.50 to $20.00, maintaining an "underperform" rating, suggesting a potential downside of 15.57% from the current stock price.
• Adient's stock is currently at $23.69, having decreased by 1.6%, and the company reported revenue of $3.74 billion in its last earnings report, exceeding analyst estimates.
• Currently, the average rating for Adient is "Reduce" with a consensus price target of $21.75, while hedge funds and institutional investors hold 92.44% of the company's stock.

Adient (NYSE:ADNT - Get Free Report) had its target price increased by analysts at Bank of America from $17.50 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price target points to a potential downside of 16.65% from the stock's current price.

Other equities research analysts have also issued reports about the company. UBS Group upped their price target on Adient from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Zacks Research lowered Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen raised Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley increased their target price on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company increased their target price on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $21.75.

Adient Stock Performance

Shares of ADNT stock traded down $0.65 on Wednesday, hitting $24.00. 703,416 shares of the stock traded hands, compared to its average volume of 989,971. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market capitalization of $1.95 billion, a PE ratio of -9.05, a PEG ratio of 0.94 and a beta of 1.76. Adient has a 1-year low of $10.04 and a 1-year high of $25.84. The company's fifty day moving average is $23.21 and its 200 day moving average is $17.78.

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

Institutional Investors Weigh In On Adient

Several hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Adient by 22.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company's stock valued at $57,879,000 after purchasing an additional 823,638 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Adient by 7.0% during the second quarter. Pzena Investment Management LLC now owns 4,174,493 shares of the company's stock valued at $81,236,000 after purchasing an additional 272,920 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock valued at $44,820,000 after purchasing an additional 53,101 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Adient by 184.2% during the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock valued at $29,837,000 after purchasing an additional 1,503,817 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Adient by 14.2% during the first quarter. Invesco Ltd. now owns 1,615,317 shares of the company's stock valued at $20,773,000 after purchasing an additional 201,276 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.