Wells Fargo & Company Forecasts Strong Price Appreciation for Adient (NYSE:ADNT) Stock

Adient (NYSE:ADNT - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $14.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 7.59% from the company's current price.

Several other research analysts have also recently commented on ADNT. Citigroup began coverage on shares of Adient in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Barclays cut shares of Adient from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. UBS Group increased their price objective on shares of Adient from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Adient from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Bank of America cut shares of Adient from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $24.00 to $18.00 in a report on Tuesday, March 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Adient has a consensus rating of "Hold" and an average price target of $18.33.

Adient Stock Performance

Shares of Adient stock opened at $15.80 on Monday. The firm has a market cap of $1.33 billion, a PE ratio of 790.00, a price-to-earnings-growth ratio of 0.34 and a beta of 1.60. The firm's 50-day simple moving average is $12.91 and its 200-day simple moving average is $16.11. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. Adient has a 1 year low of $10.04 and a 1 year high of $29.28.

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, topping the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. Adient's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in Adient by 127.0% during the third quarter. Barclays PLC now owns 208,239 shares of the company's stock worth $4,701,000 after acquiring an additional 116,518 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Adient by 36.5% during the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company's stock valued at $9,281,000 after acquiring an additional 109,850 shares during the period. KBC Group NV increased its holdings in Adient by 62.3% in the 4th quarter. KBC Group NV now owns 5,402 shares of the company's stock valued at $93,000 after buying an additional 2,074 shares during the period. R Squared Ltd bought a new stake in Adient during the fourth quarter worth $32,000. Finally, Advisors Preferred LLC acquired a new stake in Adient in the fourth quarter valued at about $1,670,000. 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.

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