Adient (NYSE:ADNT) Price Target Raised to $17.00 at Morgan Stanley

Adient (NYSE:ADNT) had its price target raised by Morgan Stanley from $13.00 to $17.00 in a research note released on Thursday, AnalystRatings.com reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also weighed in on ADNT. ValuEngine lowered shares of Adient from a strong-buy rating to a buy rating in a report on Friday, November 1st. Barclays reduced their target price on shares of Adient from $29.00 to $28.00 and set an overweight rating on the stock in a report on Wednesday, October 2nd. UBS Group lowered shares of Adient from a buy rating to a neutral rating and reduced their target price for the stock from $30.00 to $27.00 in a report on Thursday, September 12th. Bank of America lowered shares of Adient from a buy rating to a neutral rating and set a $28.00 target price on the stock. in a report on Friday, September 13th. Finally, Wolfe Research initiated coverage on shares of Adient in a report on Tuesday, October 8th. They set a market perform rating and a $21.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $21.93.

Shares of Adient stock traded up $1.24 during midday trading on Thursday, hitting $21.46. 786,135 shares of the company traded hands, compared to its average volume of 1,942,427. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 13.17 and a beta of 3.22. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.87 and a current ratio of 1.07. The firm’s fifty day moving average price is $22.16 and its 200-day moving average price is $21.87. Adient has a 12 month low of $12.15 and a 12 month high of $26.40.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.38. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.02 billion. Adient had a negative net margin of 2.97% and a positive return on equity of 6.23%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. Equities research analysts forecast that Adient will post 1.49 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Adient by 26.7% in the 2nd quarter. BlackRock Inc. now owns 10,228,254 shares of the company’s stock worth $248,239,000 after purchasing an additional 2,153,155 shares during the period. Lyrical Asset Management LP lifted its position in shares of Adient by 5.1% in the 2nd quarter. Lyrical Asset Management LP now owns 4,763,487 shares of the company’s stock worth $115,610,000 after purchasing an additional 231,369 shares during the period. Vanguard Group Inc. lifted its position in shares of Adient by 35.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,510,946 shares of the company’s stock worth $60,942,000 after purchasing an additional 652,917 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Adient in the 2nd quarter worth approximately $55,463,000. Finally, Towle & Co. lifted its position in shares of Adient by 12.3% in the 2nd quarter. Towle & Co. now owns 1,867,881 shares of the company’s stock worth $45,333,000 after purchasing an additional 204,133 shares during the period. Hedge funds and other institutional investors own 97.90% of the company’s stock.

Adient Company Profile

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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Analyst Recommendations for Adient (NYSE:ADNT)

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