Zacks Investment Research Upgrades Adient PLC (ADNT) to Buy

Adient PLC (NASDAQ:ADNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, May 3rd. The brokerage currently has a $77.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.24% from the company’s current price.

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 also recently weighed in on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 price target on shares of Adient PLC in a research note on Monday, April 10th. Barclays PLC lifted their price target on shares of Adient PLC from $59.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $72.00 price target (down previously from $76.00) on shares of Adient PLC in a research note on Monday, February 6th. They noted that the move was a valuation call. Finally, Morgan Stanley initiated coverage on shares of Adient PLC in a report on Tuesday, February 21st. They set an “overweight” rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Adient PLC has an average rating of “Hold” and a consensus target price of $63.85.

Analyst Recommendations for Adient PLC (NASDAQ:ADNT)

Shares of Adient PLC (NASDAQ:ADNT) traded up 1.319% during midday trading on Wednesday, hitting $69.505. The stock had a trading volume of 337,018 shares. The firm’s 50-day moving average price is $69.67 and its 200-day moving average price is $62.59. Adient PLC has a 1-year low of $39.66 and a 1-year high of $76.09. The stock’s market cap is $6.51 billion.

Adient PLC (NASDAQ:ADNT) last announced its quarterly earnings data on Friday, April 28th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.06. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.29 billion. Adient PLC’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts forecast that Adient PLC will post $9.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Tuesday, March 28th were given a dividend of $0.275 per share. The ex-dividend date was Friday, March 24th. This represents a $1.10 dividend on an annualized basis and a yield of 1.60%.

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Adient PLC Company Profile

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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