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

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 target price increased by Wells Fargo & Company from $18.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 9.57% from the company's previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays lifted their price target on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America upped their price target on Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a research report on Monday, June 16th. Morgan Stanley lowered their price target on Adient from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Finally, Citigroup started coverage on Adient in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Adient presently has a consensus rating of "Hold" and a consensus price target of $20.94.

Adient Stock Down 0.4%

NYSE:ADNT traded down $0.09 on Thursday, hitting $21.90. 1,128,388 shares of the company's stock traded hands, compared to its average volume of 1,460,022. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15. Adient has a 1 year low of $10.04 and a 1 year high of $24.25. The firm has a 50-day moving average price of $20.50 and a 200-day moving average price of $16.58. The company has a market cap of $1.78 billion, a PE ratio of -8.27, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72.

Adient (NYSE:ADNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $3.56 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that Adient will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Several large investors have recently made changes to their positions in ADNT. LPL Financial LLC acquired a new position in shares of Adient during the fourth quarter valued at $216,000. JPMorgan Chase & Co. increased its holdings in Adient by 96.5% in the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock valued at $13,828,000 after purchasing an additional 394,111 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Adient by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 62,877 shares of the company's stock valued at $1,083,000 after purchasing an additional 7,881 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Adient by 61.0% in the fourth quarter. Russell Investments Group Ltd. now owns 67,353 shares of the company's stock valued at $1,160,000 after purchasing an additional 25,524 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Adient by 22.0% in the fourth quarter. Invesco Ltd. now owns 1,414,041 shares of the company's stock valued at $24,364,000 after purchasing an additional 254,951 shares during the last quarter. 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.