Wells Fargo & Company Issues Pessimistic Forecast for Adient (NYSE:ADNT) Stock Price

Adient (NYSE:ADNT) had its target price lowered by equities research analysts at Wells Fargo & Company from $29.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 34.51% from the company’s previous close.

ADNT has been the topic of a number of other reports. Citigroup increased their target price on shares of Adient from $22.50 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. raised their price objective on Adient from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. UBS Group lifted their target price on Adient from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft raised Adient from a “hold” rating to a “buy” rating and set a $33.00 target price for the company 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.44.

Adient Stock Performance

Shares of ADNT opened at $20.82 on Tuesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.75, a price-to-earnings-growth ratio of 0.44 and a beta of 1.56. Adient has a 52-week low of $10.04 and a 52-week 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. The stock has a 50 day moving average price of $22.63 and a 200 day moving average price of $21.85.

Adient (NYSE:ADNT) last released its quarterly earnings data 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 company had revenue of $3.64 billion for 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 firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts predict that Adient will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its holdings in shares of Adient by 62.6% in the third quarter. Hantz Financial Services Inc. now owns 1,140 shares of the company’s stock valued at $27,000 after purchasing an additional 439 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Adient by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company’s stock worth $100,000 after purchasing an additional 764 shares during the period. Allspring Global Investments Holdings LLC grew its position in Adient by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock valued at $193,000 after buying an additional 866 shares during the last quarter. Corient Private Wealth LLC grew its position in Adient by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after buying an additional 899 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Adient by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company’s stock valued at $1,782,000 after buying an additional 1,065 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.