Adient (NYSE:ADNT – Get Free Report) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.
A number of other brokerages have also recently issued reports on ADNT. Barclays increased their target price on Adient from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Wells Fargo & Company reduced their price target on Adient from $48.00 to $45.00 in a research report on Monday, July 10th. Morgan Stanley lifted their target price on Adient from $35.00 to $38.00 and gave the stock an “underweight” rating in a report on Tuesday, August 8th. BNP Paribas downgraded Adient from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 1st. Finally, JPMorgan Chase & Co. lifted their price target on Adient from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Adient has a consensus rating of “Hold” and a consensus price target of $46.63.
Check Out Our Latest Stock Report on ADNT
Adient Stock Performance
Adient (NYSE:ADNT – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.59. Adient had a return on equity of 8.40% and a net margin of 0.75%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company posted $0.08 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Analysts predict that Adient will post 1.93 earnings per share for the current fiscal year.
Insider Activity at Adient
In other news, EVP James Conklin sold 909 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $45.00, for a total transaction of $40,905.00. Following the completion of the transaction, the executive vice president now directly owns 18,021 shares in the company, valued at $810,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Adient
Several institutional investors and hedge funds have recently added to or reduced their stakes in ADNT. Quadrant Capital Group LLC boosted its position in Adient by 32.6% during 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Adient by 0.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,962 shares of the company’s stock valued at $1,760,000 after purchasing an additional 309 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Adient by 2.6% during the 1st quarter. Xponance Inc. now owns 15,187 shares of the company’s stock worth $622,000 after acquiring an additional 378 shares during the last quarter. Greenwich Wealth Management LLC lifted its stake in Adient by 2.4% in the second quarter. Greenwich Wealth Management LLC now owns 19,154 shares of the company’s stock worth $734,000 after purchasing an additional 450 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Adient by 13.1% in the first quarter. US Bancorp DE now owns 3,916 shares of the company’s stock worth $160,000 after purchasing an additional 454 shares during the last quarter. 96.40% of the stock is currently owned by institutional investors and hedge funds.
About Adient
Adient plc, an investment holding company, 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.
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