Wells Fargo & Company Cuts Adient (NYSE:ADNT) Price Target to $28.00

Adient (NYSE:ADNT) had its price objective decreased by Wells Fargo & Company from $29.00 to $28.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Adient from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Citigroup boosted their target price on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Bank of America began coverage on shares of Adient in a research report on Wednesday, March 4th. They set an “underperform” rating and a $22.00 price target for the company. Deutsche Bank Aktiengesellschaft raised shares of Adient from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, February 5th. Finally, Barclays decreased their price target on shares of Adient from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.44.

Adient Stock Performance

Adient stock opened at $20.29 on Tuesday. The firm has a market capitalization of $1.59 billion, a P/E ratio of -5.60, a PEG ratio of 0.45 and a beta of 1.55. The stock has a fifty day moving average price of $22.59 and a 200 day moving average price of $21.84. Adient has a 52 week low of $10.04 and a 52 week high of $27.32. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.17.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, February 4th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.16. Adient had a positive return on equity of 8.18% and a negative net margin of 2.06%.The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Adient will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC increased its position in Adient by 5.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after purchasing an additional 899 shares in the last quarter. Invesco Ltd. lifted its position in Adient by 38.6% during the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after buying an additional 445,343 shares in the last quarter. Vident Advisory LLC lifted its position in Adient by 25.6% during the fourth quarter. Vident Advisory LLC now owns 34,794 shares of the company’s stock valued at $667,000 after buying an additional 7,086 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Adient during the fourth quarter worth approximately $605,000. Finally, XTX Topco Ltd purchased a new stake in Adient during the fourth quarter worth approximately $935,000. Hedge funds and other 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.