Bank of America Issues Positive Forecast for Adient (NYSE:ADNT) Stock Price

Adient (NYSE:ADNT) had its price target upped by Bank of America from $15.00 to $17.50 in a research note released on Monday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other research analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Adient from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, May 19th. Citigroup initiated coverage on shares of Adient in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Adient from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Wall Street Zen cut Adient from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, UBS Group upped their price target on Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.17.

Adient Stock Performance

Adient stock opened at $19.13 on Monday. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $26.59. The stock’s 50 day simple moving average is $14.21 and its two-hundred day simple moving average is $15.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 956.50, a PEG ratio of 0.34 and a beta of 1.64.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.33. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. As a group, analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Several institutional investors and hedge funds have recently made changes to their positions in ADNT. JPMorgan Chase & Co. boosted its stake in Adient by 96.5% during the 4th 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. Northern Trust Corp lifted its holdings in shares of Adient by 6.8% during the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company’s stock valued at $19,464,000 after purchasing an additional 72,077 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock valued at $62,535,000 after purchasing an additional 803,961 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Adient by 263.6% during the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company’s stock valued at $1,383,000 after buying an additional 58,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Adient by 105.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company’s stock worth $6,358,000 after buying an additional 189,574 shares in the last quarter. 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.