Adient (NYSE:ADNT) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Adient (NYSE:ADNT) from an equal weight rating to an overweight rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $31.00 price objective on the stock, up from their prior price objective of $24.00.

ADNT has been the subject of several other reports. Morgan Stanley increased their price target on shares of Adient from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Bank of America raised their target price 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 lowered shares of Adient from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Finally, Barclays upped their price target on Adient from $18.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.63.

Adient Stock Up 1.4%

NYSE:ADNT opened at $24.66 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. Adient has a 1-year low of $10.04 and a 1-year high of $25.84. The company has a 50-day moving average of $23.58 and a 200 day moving average of $18.36. The firm has a market cap of $2.00 billion, a PE ratio of -9.31, a price-to-earnings-growth ratio of 0.93 and a beta of 1.76.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. As a group, research analysts anticipate that Adient will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in Adient by 23,600.0% during the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company’s stock worth $27,000 after acquiring an additional 2,124 shares during the period. GAMMA Investing LLC raised its stake in shares of Adient by 157.5% in the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after purchasing an additional 1,367 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Adient by 991.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company’s stock worth $42,000 after purchasing an additional 1,982 shares during the period. Fifth Third Bancorp boosted its position in Adient by 544.4% in the second quarter. Fifth Third Bancorp now owns 2,133 shares of the company’s stock valued at $42,000 after buying an additional 1,802 shares during the last quarter. Finally, CWM LLC increased its holdings in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company’s stock worth $44,000 after buying an additional 1,636 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.