Adient (NYSE:ADNT) Shares Gap Up Following Analyst Upgrade

Adient (NYSE:ADNT)’s stock price gapped up before the market opened on Thursday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $24.32, but opened at $25.05. Wells Fargo & Company now has a $31.00 price target on the stock, up from their previous price target of $24.00. Adient shares last traded at $25.08, with a volume of 153,040 shares trading hands.

ADNT has been the subject of several other research reports. Wall Street Zen raised shares of Adient from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Bank of America boosted their price objective on shares of Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, September 10th. Zacks Research cut shares of Adient from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Adient from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Tuesday, August 12th. Finally, Stifel Nicolaus initiated coverage on shares of Adient in a research note on Thursday, August 21st. They set a “buy” rating and a $27.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Adient currently has a consensus rating of “Hold” and an average price target of $22.63.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently bought and sold shares of ADNT. Brooklyn Investment Group grew its stake in Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company’s stock worth $27,000 after buying an additional 2,124 shares in the last quarter. GAMMA Investing LLC grew its stake in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after buying an additional 1,367 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Adient by 991.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company’s stock worth $42,000 after buying an additional 1,982 shares in the last quarter. Fifth Third Bancorp grew its stake in Adient by 544.4% in the 2nd quarter. Fifth Third Bancorp now owns 2,133 shares of the company’s stock worth $42,000 after buying an additional 1,802 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company’s stock valued at $44,000 after purchasing an additional 1,636 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Stock Up 1.4%

The company has a market cap of $2.00 billion, a PE ratio of -9.31, a PEG ratio of 0.93 and a beta of 1.76. The stock’s 50 day moving average price is $23.58 and its 200-day moving average price is $18.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the company posted $0.32 EPS. Adient’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that Adient will post 1.76 earnings per share for the current year.

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.