Adient (NYSE:ADNT) Given New $28.00 Price Target at Wells Fargo & Company

Adient (NYSE:ADNT) had its price target decreased by Wells Fargo & Company from $29.00 to $28.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen raised Adient from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price target on Adient from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Stifel Nicolaus lifted their price objective on Adient from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Finally, Morgan Stanley lifted their price objective on Adient from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.44.

Adient Stock Performance

NYSE ADNT opened at $20.22 on Tuesday. The stock has a market cap of $1.58 billion, a P/E ratio of -5.58, a PEG ratio of 0.42 and a beta of 1.56. The company’s 50-day simple moving average is $22.66 and its 200 day simple moving average is $21.86. Adient has a twelve month low of $10.04 and a twelve month high of $27.32. The company has a quick ratio of 0.88, a current ratio of 1.09 and a debt-to-equity ratio of 1.17.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADNT. Vanguard Group Inc. boosted its position in Adient by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 4,684,882 shares of the company’s stock valued at $89,809,000 after buying an additional 208,938 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Adient by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,215,764 shares of the company’s stock worth $101,517,000 after acquiring an additional 328,555 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Adient by 61.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,890,233 shares of the company’s stock worth $45,517,000 after acquiring an additional 718,538 shares during the last quarter. UBS Group AG lifted its stake in shares of Adient by 12.9% during the fourth quarter. UBS Group AG now owns 1,848,690 shares of the company’s stock valued at $35,439,000 after acquiring an additional 210,758 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Adient by 38.6% during the fourth quarter. Invesco Ltd. now owns 1,599,937 shares of the company’s stock valued at $30,671,000 after acquiring an additional 445,343 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

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.