Adient (NYSE:ADNT) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Adient (NYSE:ADNT) in a report published on Wednesday morning. The brokerage issued an underperform rating and a $22.00 price objective on the stock.

A number of other brokerages have also issued reports on ADNT. Barclays lifted their price target on Adient from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. UBS Group increased their price objective on Adient from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded Adient from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Citigroup lifted their target price on Adient from $22.50 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Adient in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.67.

Adient Stock Performance

Shares of Adient stock opened at $21.30 on Wednesday. The firm has a market capitalization of $1.67 billion, a P/E ratio of -5.88, a PEG ratio of 0.48 and a beta of 1.56. 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 company has a 50 day moving average price of $22.72 and a 200 day moving average price of $22.37. Adient has a 52 week low of $10.04 and a 52 week high of $27.32.

Adient (NYSE:ADNT) last released its earnings results on Wednesday, February 4th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.16. Adient had a negative net margin of 2.06% and a positive return on equity of 8.18%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the business earned $0.27 EPS. Adient’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts expect that Adient will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

Institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its holdings in Adient by 441.0% in the third quarter. Teacher Retirement System of Texas now owns 69,085 shares of the company’s stock valued at $1,664,000 after acquiring an additional 56,316 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Adient by 439.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,171,695 shares of the company’s stock worth $22,801,000 after purchasing an additional 954,441 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Adient by 241.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 146,486 shares of the company’s stock worth $2,851,000 after purchasing an additional 103,603 shares during the period. Intech Investment Management LLC increased its holdings in shares of Adient by 257.4% during the 2nd quarter. Intech Investment Management LLC now owns 170,252 shares of the company’s stock valued at $3,313,000 after purchasing an additional 122,610 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Adient by 921.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 812,329 shares of the company’s stock valued at $19,561,000 after purchasing an additional 732,837 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.