Bank of America Raises Adient (NYSE:ADNT) Price Target to $20.00

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 price target increased by Bank of America from $17.50 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's target price would indicate a potential downside of 17.64% from the company's current price.

Other research analysts have also issued research reports about the company. Wall Street Zen raised Adient from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Stifel Nicolaus initiated coverage on Adient in a research report on Thursday, August 21st. They issued a "buy" rating and a $27.00 target price for the company. Cfra Research upgraded Adient from a "moderate sell" rating to a "hold" rating in a research note on Thursday, August 7th. Zacks Research downgraded Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Morgan Stanley upped their price target on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $21.75.

Adient Trading Up 1.2%

Shares of NYSE ADNT traded up $0.30 during midday trading on Wednesday, reaching $24.29. The company had a trading volume of 306,669 shares, compared to its average volume of 1,399,896. Adient has a one year low of $10.04 and a one year high of $25.84. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The firm's fifty day moving average price is $23.21 and its 200-day moving average price is $17.80. The stock has a market cap of $1.97 billion, a PE ratio of -9.19, a price-to-earnings-growth ratio of 0.92 and a beta of 1.76.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the company earned $0.32 EPS. The company's revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Adient will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On Adient

A number of institutional investors and hedge funds have recently bought and sold shares of ADNT. Point72 Hong Kong Ltd bought a new stake in Adient during the fourth quarter valued at about $25,000. Brooklyn Investment Group raised its holdings in Adient by 23,600.0% during the first quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock valued at $27,000 after acquiring an additional 2,124 shares during the period. GAMMA Investing LLC raised its holdings in Adient by 157.5% during the first 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. MassMutual Private Wealth & Trust FSB raised its holdings in Adient by 991.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock valued at $42,000 after acquiring an additional 1,982 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Adient by 544.4% during the second quarter. Fifth Third Bancorp now owns 2,133 shares of the company's stock valued at $42,000 after acquiring an additional 1,802 shares during the period. 92.44% of the stock is owned by 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.