Brokerages Set Adient PLC (ADNT) PT at $57.20
Shares of Adient PLC (NYSE:ADNT) have received a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $57.20.
Several brokerages have recently weighed in on ADNT. ValuEngine downgraded shares of Adient from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Morgan Stanley downgraded shares of Adient from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $50.00 to $43.00 in a research note on Tuesday, July 31st. Barclays reduced their price target on shares of Adient from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Adient to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 12th. Finally, TheStreet downgraded shares of Adient from a “c-” rating to a “d+” rating in a research note on Thursday, July 12th.
A number of hedge funds have recently bought and sold shares of ADNT. American Century Companies Inc. bought a new position in Adient during the 2nd quarter worth about $2,292,000. Brown Advisory Inc. grew its holdings in Adient by 943.0% during the 2nd quarter. Brown Advisory Inc. now owns 37,476 shares of the company’s stock worth $1,843,000 after acquiring an additional 33,883 shares in the last quarter. Taylor Asset Management Inc. grew its holdings in Adient by 23.6% during the 2nd quarter. Taylor Asset Management Inc. now owns 6,800 shares of the company’s stock worth $334,000 after acquiring an additional 1,300 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Adient by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 872,297 shares of the company’s stock worth $42,908,000 after acquiring an additional 3,387 shares in the last quarter. Finally, Comerica Bank grew its holdings in Adient by 31.4% during the 2nd quarter. Comerica Bank now owns 179,312 shares of the company’s stock worth $8,793,000 after acquiring an additional 42,868 shares in the last quarter.
Adient (NYSE:ADNT) last announced its earnings results on Thursday, July 26th. The company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.11). Adient had a net margin of 0.08% and a return on equity of 14.27%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the company posted $2.52 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. analysts predict that Adient will post 5.79 earnings per share for the current fiscal year.
Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company operates through two segments, Seating and Interiors. The Seating segment produces automotive seat metal structures and mechanisms, foams, trims, fabrics, and seat systems.
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