Adient (NYSE:ADNT) Now Covered by Bank of America

Analysts at Bank of America assumed coverage on shares of Adient (NYSE:ADNT) in a research note issued on Wednesday. The brokerage set an “underperform” rating and a $22.00 price target on the stock. Bank of America‘s price objective would indicate a potential downside of 1.75% from the company’s current price.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Adient from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Citigroup lifted their price target on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Adient from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company upped their target price on Adient from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Stifel Nicolaus increased their price target on Adient from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Adient currently has an average rating of “Hold” and an average price target of $27.67.

Adient Stock Down 0.9%

NYSE ADNT traded down $0.21 on Wednesday, reaching $22.39. The company had a trading volume of 180,972 shares, compared to its average volume of 1,144,144. The company’s fifty day moving average is $22.57 and its 200-day moving average is $22.39. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -6.18, a price-to-earnings-growth ratio of 0.62 and a beta of 1.56. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 1.09. Adient has a 1-year low of $10.04 and a 1-year high of $27.32.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.16. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.45 billion. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. On average, research analysts forecast that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Adient

Several institutional investors and hedge funds have recently bought and sold shares of ADNT. Hantz Financial Services Inc. boosted 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 during the period. Leonteq Securities AG acquired a new stake in Adient during the 4th quarter valued at $30,000. Quarry LP boosted its position in Adient by 163.9% during the third quarter. Quarry LP now owns 2,304 shares of the company’s stock worth $55,000 after purchasing an additional 1,431 shares during the period. Raymond James Financial Inc. bought a new position in Adient during the second quarter worth $63,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Adient in the fourth quarter valued at $64,000. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.