Wells Fargo & Company Trims Adient (NYSE:ADNT) Target Price to $27.00

Adient (NYSE:ADNT) had its price target dropped by Wells Fargo & Company from $29.00 to $27.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 21.08% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price target on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Bank of America reduced their price objective on Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Finally, Barclays dropped their target price on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.63.

Adient Stock Performance

ADNT traded down $0.29 during trading on Friday, reaching $22.30. 593,179 shares of the company’s stock were exchanged, compared to its average volume of 1,131,225. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. Adient has a 1 year low of $19.40 and a 1 year high of $37.36. The company’s fifty day simple moving average is $22.70 and its 200-day simple moving average is $26.85. The stock has a market capitalization of $2.00 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 0.53 and a beta of 2.16.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, research analysts predict that Adient will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of Adient by 44.5% in the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the period. Covestor Ltd raised its holdings in Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares during the period. Lazard Asset Management LLC acquired a new position in Adient during the first quarter valued at approximately $135,000. Headlands Technologies LLC acquired a new position in Adient during the first quarter valued at approximately $159,000. Finally, Algert Global LLC purchased a new stake in Adient during the second quarter worth approximately $227,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.