Adient (NYSE:ADNT) Raised to Overweight at JPMorgan Chase & Co.

Adient (NYSE:ADNT) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $25.00 price objective on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 33.26% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 price objective on shares of Adient in a report on Thursday, August 6th. Barclays lowered their price objective on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Morgan Stanley cut their target price on Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Finally, BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Adient presently has a consensus rating of “Hold” and an average price target of $26.30.

Adient Price Performance

NYSE ADNT opened at $18.76 on Tuesday. Adient has a 52 week low of $17.68 and a 52 week high of $27.32. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 0.39 and a beta of 1.52. The company has a 50-day moving average price of $19.70 and a two-hundred day moving average price of $20.69.

Adient (NYSE:ADNT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts forecast that Adient will post 2.02 EPS for the current year.

Insider Activity

In other news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the sale, the director directly owned 38,835 shares of the company’s stock, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Adient

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADNT. Integrated Wealth Concepts LLC purchased a new stake in shares of Adient in the second quarter valued at $27,000. Leonteq Securities AG purchased a new position in shares of Adient during the fourth quarter valued at $30,000. Parallel Advisors LLC raised its position in Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Adient during the second quarter valued at $94,000. Finally, PNC Financial Services Group Inc. lifted its stake in Adient by 10.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after acquiring an additional 705 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.