Adient PLC (ADNT) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Adient PLC (NASDAQ:ADNT) from a hold rating to a buy rating in a research note issued to investors on Monday. The firm currently has $94.00 price target on the stock.
According to Zacks, “Adient plc is an automotive seating supplier. The company produces and delivers automotive seating for vehicle classes and OEMs. It operates primarily in the Americas, Europe, Africa, the Asia Pacific and China. Adient plc is based in Dublin, Ireland. “
Several other equities research analysts also recently weighed in on ADNT. Royal Bank Of Canada reissued a buy rating and issued a $82.00 target price on shares of Adient PLC in a research report on Monday, September 25th. Guggenheim started coverage on shares of Adient PLC in a research note on Wednesday, June 21st. They issued a neutral rating and a $65.00 target price on the stock. Bank of America Corporation reaffirmed an underperform rating and set a $40.00 price target (down previously from $50.00) on shares of Adient PLC in a research report on Friday, June 16th. Finally, Morgan Stanley reduced their price target on shares of Adient PLC from $95.00 to $85.00 and set an overweight rating on the stock in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $63.93.
Adient PLC (NASDAQ ADNT) opened at 84.97 on Monday. The stock’s market cap is $7.91 billion. The firm has a 50-day moving average of $80.93 and a 200 day moving average of $80.93. Adient PLC has a 12 month low of $39.66 and a 12 month high of $86.42.
Adient PLC (NASDAQ:ADNT) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.02. Adient PLC had a net margin of 5.63% and a return on equity of 21.65%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company posted $2.43 earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. Analysts anticipate that Adient PLC will post $9.36 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 18th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, October 17th.
In other Adient PLC news, Chairman R Bruce Mcdonald sold 4,607 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $68.67, for a total value of $316,362.69. Following the transaction, the chairman now owns 4,818 shares of the company’s stock, valued at $330,852.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond L. Conner bought 3,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of $73.91 per share, for a total transaction of $221,730.00. Following the acquisition, the director now directly owns 5,270 shares of the company’s stock, valued at $389,505.70. The disclosure for this purchase can be found here.
About Adient PLC
Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors.
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