Wall Street Zen Upgrades Adient (NYSE:ADNT) to Buy

Adient (NYSE:ADNT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

ADNT has been the topic of a number of other reports. Barclays increased their target price on shares of Adient from $18.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Adient from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. UBS Group upped their target price on Adient from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Citigroup started coverage on Adient in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $14.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on Adient from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.06.

Adient Trading Down 1.4%

NYSE ADNT opened at $21.75 on Friday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.80, a PEG ratio of 0.66 and a beta of 1.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.11. Adient has a one year low of $10.04 and a one year high of $26.59. The company’s 50 day moving average price is $18.46 and its 200 day moving average price is $16.05.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.36 by $0.33. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts predict that Adient will post 1.76 EPS for the current year.

Institutional Trading of Adient

Large investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its position in shares of Adient by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,411 shares of the company’s stock valued at $670,000 after purchasing an additional 1,204 shares during the period. Signaturefd LLC purchased a new stake in Adient during the second quarter valued at about $174,000. State of Alaska Department of Revenue boosted its holdings in shares of Adient by 7.6% in the second quarter. State of Alaska Department of Revenue now owns 50,051 shares of the company’s stock worth $973,000 after buying an additional 3,544 shares during the period. Ballentine Partners LLC purchased a new position in shares of Adient in the second quarter worth approximately $224,000. Finally, Fifth Third Bancorp increased its position in shares of Adient by 544.4% in the second quarter. Fifth Third Bancorp now owns 2,133 shares of the company’s stock worth $42,000 after acquiring an additional 1,802 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Company Profile

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.