Bank of America Begins Coverage on Adient (NYSE:ADNT)

Stock analysts at Bank of America initiated coverage on shares of Adient (NYSE:ADNT) in a note issued to investors on Wednesday. The brokerage set an “underperform” rating and a $22.00 price target on the stock. Bank of America‘s target price suggests a potential downside of 0.23% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Adient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted their price target on Adient from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings restated a “sell (d)” rating on shares of Adient in a report on Wednesday, January 21st. Citigroup lifted their price objective on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company boosted their target price on shares of Adient from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.67.

Adient Stock Down 0.5%

Shares of NYSE ADNT opened at $22.05 on Wednesday. The company’s 50 day moving average price is $22.68 and its 200-day moving average price is $22.38. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 1.09. Adient has a 52-week low of $10.04 and a 52-week high of $27.32. The company has a market capitalization of $1.73 billion, a P/E ratio of -6.09, a price-to-earnings-growth ratio of 0.58 and a beta of 1.56.

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

Hedge Funds Weigh In On Adient

A number of large investors have recently modified their holdings of ADNT. Invesco Ltd. increased its stake in Adient by 38.6% during the 4th quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after purchasing an additional 445,343 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Adient by 5.2% during the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after acquiring an additional 899 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Adient by 25.6% in the 4th quarter. Vident Advisory LLC now owns 34,794 shares of the company’s stock worth $667,000 after acquiring an additional 7,086 shares during the last quarter. Mackenzie Financial Corp bought a new position in Adient in the 4th quarter valued at about $605,000. Finally, XTX Topco Ltd bought a new position in Adient in the 4th quarter valued at about $935,000. 92.44% of the stock is currently owned by institutional investors.

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.