Adient PLC (ADNT) Upgraded 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 report released on Monday. They currently have $94.00 target price 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 analysts have also issued reports on the stock. Bank of America Corporation reiterated 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. Morgan Stanley dropped their price objective on shares of Adient PLC from $95.00 to $85.00 and set an overweight rating for the company in a research note on Friday, June 9th. Royal Bank Of Canada reissued a buy rating on shares of Adient PLC in a research note on Thursday, July 6th. Finally, 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 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $63.93.
Adient PLC (NASDAQ:ADNT) opened at 85.07 on Monday. The company has a 50-day moving average of $81.39 and a 200 day moving average of $81.39. Adient PLC has a 52-week low of $39.66 and a 52-week high of $86.42. The company’s market cap is $7.92 billion.
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, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.02. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.12 billion. Adient PLC had a net margin of 5.63% and a return on equity of 21.65%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. Equities research analysts predict that Adient PLC will post $9.36 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 18th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, October 17th.
In other Adient PLC news, Director Raymond L. Conner purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average price of $73.91 per share, with a total value of $221,730.00. Following the completion of the purchase, the director now owns 5,270 shares of the company’s stock, valued at $389,505.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Byron S. Foster sold 1,316 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $69.85, for a total transaction of $91,922.60. Following the transaction, the insider now directly owns 67,845 shares of the company’s stock, valued at approximately $4,738,973.25. The disclosure for this sale 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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