Adient (NYSE:ADNT) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Adient (NYSE:ADNT - Free Report) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other research analysts also recently commented on the company. Barclays lifted their target price on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America lifted their target price on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a report on Monday, June 16th. Citigroup started coverage on Adient in a report on Wednesday, April 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Morgan Stanley cut their target price on Adient from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Monday, May 19th. Finally, Wells Fargo & Company lifted their target price on Adient from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.06.

Adient Price Performance

Shares of ADNT stock traded up $0.05 during trading hours on Friday, reaching $22.18. The company's stock had a trading volume of 276,842 shares, compared to its average volume of 1,449,391. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.59. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -6.92, a PEG ratio of 0.66 and a beta of 1.69. The firm's 50 day simple moving average is $18.59 and its 200-day simple moving average is $16.08.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.33. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted $0.54 EPS. Adient's revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts forecast that Adient will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HITE Hedge Asset Management LLC raised its holdings in Adient by 184.2% during the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock valued at $29,837,000 after acquiring an additional 1,503,817 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in Adient by 22.4% during the 1st 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. Arrowstreet Capital Limited Partnership bought a new stake in Adient during the 4th quarter valued at $11,395,000. Millennium Management LLC raised its holdings in Adient by 2,039.0% during the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company's stock valued at $10,516,000 after acquiring an additional 581,779 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Adient by 68,173.6% during the 1st 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. Hedge funds and other institutional investors 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.