Adient (NYSE:ADNT) Raised to Overweight at Wells Fargo & Company

Key Points

• Wells Fargo & Company upgraded Adient from "equal weight" to "overweight," with a new price target of $31.00, indicating a potential upside of 27.57% from its current price.
• Adient's stock has a 12-month high of $25.84 and a low of $10.04, reflecting significant volatility.
• Recent earnings revealed that Adient missed consensus EPS estimates, reporting $0.45, while revenue increased by 0.7% year-over-year to $3.74 billion.

Adient (NYSE:ADNT - Get Free Report) was upgraded by Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a $31.00 price target on the stock, up from their prior price target of $24.00. Wells Fargo & Company's price objective suggests a potential upside of 27.57% from the company's current price.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus assumed coverage on shares of Adient in a research report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price target for the company. UBS Group upped their price target on shares of Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Bank of America upped their price target on shares of Adient from $17.50 to $20.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 10th. Barclays upped their price target on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Adient currently has a consensus rating of "Hold" and an average target price of $22.63.

Adient Stock Down 0.6%

Shares of ADNT stock opened at $24.30 on Thursday. Adient has a 12 month low of $10.04 and a 12 month high of $25.84. The stock has a market cap of $1.97 billion, a P/E ratio of -9.17, a P/E/G ratio of 0.93 and a beta of 1.76. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15. The company has a 50 day simple moving average of $23.53 and a two-hundred day simple moving average of $18.29.

Adient (NYSE:ADNT - Get Free Report) last announced its 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 analysts' expectations of $3.56 billion. During the same period in the prior year, the company posted $0.32 earnings per share. The firm's quarterly revenue was up .7% on a year-over-year basis. On average, research analysts expect that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Several institutional investors have recently bought and sold shares of ADNT. HITE Hedge Asset Management LLC lifted its position in 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. Letko Brosseau & Associates Inc. purchased a new stake in shares of Adient in the second quarter valued at $28,839,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Adient by 439.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company's stock valued at $22,801,000 after acquiring an additional 954,441 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Adient by 22.4% in 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 acquiring an additional 823,638 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Adient by 68,173.6% in the first quarter. Federated Hermes Inc. now owns 524,341 shares of the company's stock valued at $6,743,000 after acquiring an additional 523,573 shares during the period. Institutional investors 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.

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