Adient (NYSE:ADNT) Price Target Raised to $24.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Adient (NYSE:ADNT) from $18.00 to $24.00, indicating a potential upside of 6.41% from the current price.
• The consensus rating for Adient is currently "Hold" with a price target of $20.94, while only one analyst has issued a buy rating.
• Adient's latest quarterly earnings report revealed a net margin of -1.86% and a revenue increase of 0.7% year-over-year, with an EPS of $0.45 missing estimates.

Adient (NYSE:ADNT - Get Free Report) had its price target lifted by Wells Fargo & Company from $18.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 8.87% from the company's current price.

ADNT has been the topic of a number of other reports. Barclays raised 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 increased their price target on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a research note on Monday, June 16th. Citigroup began coverage on Adient in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price target for the company. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Morgan Stanley cut their price target on Adient from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.94.

Adient Stock Performance

Adient stock traded down $0.70 during trading on Thursday, reaching $22.04. The company had a trading volume of 1,440,420 shares, compared to its average volume of 1,228,974. Adient has a 52 week low of $10.04 and a 52 week high of $24.25. The firm's 50-day simple moving average is $20.50 and its 200 day simple moving average is $16.58. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -8.32, a price-to-earnings-growth ratio of 0.81 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 1.15.

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 positive return on equity of 8.25% and a negative net margin of 1.53%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Adient's revenue for the quarter was up .7% compared to the same quarter last year. Sell-side 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 made changes to their positions in ADNT. HITE Hedge Asset Management LLC grew its position 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 in the last quarter. Letko Brosseau & Associates Inc. purchased a new position in shares of Adient during the second quarter valued at about $28,839,000. Hotchkis & Wiley Capital Management LLC grew its position 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 in the last quarter. Millennium Management LLC grew its position in shares of Adient by 2,039.0% during the fourth quarter. Millennium Management LLC now owns 610,312 shares of the company's stock valued at $10,516,000 after purchasing an additional 581,779 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Adient by 68,173.6% in the first quarter. Federated Hermes Inc. now owns 524,341 shares of the company's stock worth $6,743,000 after acquiring an additional 523,573 shares in the last quarter. 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.