Brokerages Set Adient (NYSE:ADNT) Target Price at $17.31

Adient (NYSE:ADNT) has been assigned an average rating of “Reduce” from the nine brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $17.31.

A number of research firms have issued reports on ADNT. Citigroup began coverage on Adient in a report on Wednesday, April 23rd. They set a “neutral” rating and a $14.00 target price for the company. UBS Group increased their target price on Adient from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Bank of America increased their target price on Adient from $15.00 to $17.50 and gave the stock an “underperform” rating in a report on Monday, June 16th. Wells Fargo & Company increased their target price on Adient from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Barclays cut Adient from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th.

Adient Price Performance

ADNT opened at $22.38 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Adient has a 12 month low of $10.04 and a 12 month high of $26.59. The company has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $15.70. The stock has a market cap of $1.88 billion, a P/E ratio of -6.99, a P/E/G ratio of 0.49 and a beta of 1.69.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.33. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Adient had a negative net margin of 1.86% and a positive return on equity of 7.70%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, research analysts expect that Adient will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

Several hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC grew its holdings in Adient by 184.2% during the first quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company’s stock worth $29,837,000 after purchasing an additional 1,503,817 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Adient by 22.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company’s stock worth $57,879,000 after purchasing an additional 823,638 shares during the period. Pzena Investment Management LLC lifted its position in Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after acquiring an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Adient in the fourth quarter valued at approximately $11,395,000. Finally, Millennium Management LLC increased its stake in shares of Adient by 2,039.0% during the fourth quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock worth $10,516,000 after purchasing an additional 581,779 shares during the period. 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.