Adient (NYSE:ADNT – Free Report) had its price target trimmed by Wells Fargo & Company from $41.00 to $40.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.
Several other equities analysts have also recently weighed in on ADNT. Morgan Stanley lowered their price target on Adient from $38.00 to $35.00 and set an underweight rating on the stock in a report on Tuesday, November 14th. TheStreet downgraded shares of Adient from a b- rating to a c+ rating in a research report on Tuesday, December 12th. Barclays cut their price objective on shares of Adient from $47.00 to $43.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. Finally, StockNews.com cut Adient from a buy rating to a hold rating in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $43.67.
Adient Trading Up 2.3 %
Adient (NYSE:ADNT – Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.16). Adient had a net margin of 1.33% and a return on equity of 8.14%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts forecast that Adient will post 2.74 EPS for the current fiscal year.
Insider Buying and Selling at Adient
In other news, Director Peter Carlin sold 3,553 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $33.58, for a total value of $119,309.74. Following the transaction, the director now directly owns 28,352 shares in the company, valued at $952,060.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Adient
Several large investors have recently made changes to their positions in ADNT. SummerHaven Investment Management LLC lifted its position in shares of Adient by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after buying an additional 310 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Adient by 4.9% in the third quarter. Verdence Capital Advisors LLC now owns 7,820 shares of the company’s stock worth $287,000 after buying an additional 368 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in shares of 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 buying an additional 450 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Adient by 1.0% in the second quarter. Russell Investments Group Ltd. now owns 56,248 shares of the company’s stock worth $2,156,000 after buying an additional 559 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Adient by 1.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,555 shares of the company’s stock worth $1,562,000 after buying an additional 571 shares in the last quarter. 91.39% of the stock is currently owned by hedge funds and other institutional investors.
Adient plc 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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