JPMorgan Chase & Co. Lowers Adient (NYSE:ADNT) Price Target to $24.00

Adient (NYSE:ADNT) had its target price lowered by JPMorgan Chase & Co. from $26.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 26.65% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company cut their price target on Adient from $31.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday. Zacks Research cut Adient from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Adient in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Adient from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, August 12th. Finally, Bank of America boosted their price objective on Adient from $17.50 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Adient has an average rating of “Reduce” and a consensus price target of $22.00.

Adient Stock Performance

ADNT traded down $1.03 during trading on Thursday, reaching $18.95. 2,371,306 shares of the company’s stock were exchanged, compared to its average volume of 1,324,682. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.16. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $24.01 and a 200 day moving average price of $20.69. The company has a market capitalization of $1.54 billion, a P/E ratio of -7.15, a PEG ratio of 0.82 and a beta of 1.87.

Adient (NYSE:ADNT) last issued its earnings results on Wednesday, May 31st. The company reported ($0.13) EPS for the quarter. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The firm had revenue of $3.51 billion during the quarter. As a group, analysts predict that Adient will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Several hedge funds have recently made changes to their positions in the business. Greenwich Wealth Management LLC grew its stake in shares of Adient by 1.3% during the 2nd quarter. Greenwich Wealth Management LLC now owns 35,211 shares of the company’s stock worth $685,000 after acquiring an additional 435 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Adient by 62.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock worth $27,000 after acquiring an additional 439 shares in the last quarter. Covestor Ltd grew its stake in shares of Adient by 15.2% during the 1st quarter. Covestor Ltd now owns 6,984 shares of the company’s stock worth $90,000 after acquiring an additional 922 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Adient by 3.1% during the 2nd quarter. Yousif Capital Management LLC now owns 37,363 shares of the company’s stock worth $727,000 after acquiring an additional 1,114 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its stake in shares of Adient by 3.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 34,411 shares of the company’s stock worth $670,000 after acquiring an additional 1,204 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

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.