Wolfe Research Begins Coverage on Adient (NYSE:ADNT)

Wolfe Research initiated coverage on shares of Adient (NYSE:ADNT) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a peer perform rating on the stock.

Several other brokerages also recently weighed in on ADNT. BNP Paribas raised shares of Adient from an underperform rating to a neutral rating and set a $26.00 target price on the stock in a research note on Monday, July 1st. Wells Fargo & Company lowered their price objective on shares of Adient from $33.00 to $32.00 and set an overweight rating on the stock in a research note on Tuesday, June 25th. 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. Bank of America cut their price target on shares of Adient from $42.00 to $40.00 and set a buy rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Adient from $31.00 to $27.00 and set a neutral rating for the company in a research note on Thursday, August 8th. One equities research 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.com, Adient presently has an average rating of Hold and a consensus target price of $28.00.

Adient Stock Performance

Shares of NYSE ADNT opened at $21.12 on Thursday. The firm’s 50-day moving average price is $23.28 and its 200-day moving average price is $27.62. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.90 billion, a PE ratio of 12.96, a PEG ratio of 0.58 and a beta of 2.19. Adient has a 52-week low of $20.18 and a 52-week high of $39.93.

Adient (NYSE:ADNT) last posted its earnings results 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). The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. As a group, analysts anticipate that Adient will post 1.77 EPS for the current year.

Institutional Investors Weigh In On Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its holdings in shares of Adient by 959.8% during the fourth quarter. Teacher Retirement System of Texas now owns 109,359 shares of the company’s stock valued at $3,976,000 after acquiring an additional 99,040 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Adient by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock worth $117,558,000 after buying an additional 37,010 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Adient during the 1st quarter worth $2,710,000. Magnetar Financial LLC purchased a new stake in Adient in the first quarter valued at about $2,746,000. Finally, Duality Advisers LP purchased a new stake in Adient in the first quarter valued at about $1,653,000. 92.44% of the stock is currently owned by 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.