Adient (NYSE:ADNT) Price Target Cut to $49.00 by Analysts at Wells Fargo & Company

Posted by on Apr 12th, 2023

Adient (NYSE:ADNT – Get Rating) had its price target lowered by investment analysts at Wells Fargo & Company from $50.00 to $49.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 25.67% from the stock’s previous close.

ADNT has been the subject of several other research reports. StockNews.com started coverage on shares of Adient in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Benchmark increased their target price on shares of Adient from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Morgan Stanley increased their target price on shares of Adient from $29.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 9th. Wolfe Research cut shares of Adient from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 9th. Finally, Barclays began coverage on shares of Adient in a research note on Tuesday, February 14th. They set an “overweight” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.75.

Adient Price Performance

ADNT opened at $38.99 on Monday. The stock has a fifty day moving average of $41.64 and a 200-day moving average of $38.06. The firm has a market capitalization of $3.72 billion, a P/E ratio of -68.40 and a beta of 2.76. Adient has a 12-month low of $27.15 and a 12-month high of $47.50. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 1.05.

Adient (NYSE:ADNT – Get Rating) last released its earnings results on Tuesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Adient had a negative net margin of 0.38% and a positive return on equity of 3.21%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the company earned ($0.38) EPS. Adient’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts forecast that Adient will post 1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Adient

Hedge funds and other institutional investors have recently made changes to their positions in the business. OLD Mission Capital LLC purchased a new position in Adient in the fourth quarter valued at about $30,000. Clear Street Markets LLC purchased a new position in Adient in the third quarter valued at about $28,000. Quadrant Capital Group LLC boosted its stake in Adient by 32.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,091 shares of the company’s stock valued at $38,000 after acquiring an additional 268 shares during the last quarter. FourThought Financial LLC boosted its stake in Adient by 19.0% in the third quarter. FourThought Financial LLC now owns 1,838 shares of the company’s stock valued at $51,000 after acquiring an additional 293 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Adient in the fourth quarter valued at about $115,000. 93.20% of the stock is owned by institutional investors.

Adient Company Profile

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Adient plc manufactures automotive seating systems. It operates through the following geographical segments: Americas, EMEA, and Asia. The company was founded in 1985 and is headquartered in Plymouth, MI.

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Analyst Recommendations for Adient (NYSE:ADNT)

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