Adient PLC (ADNT) Price Target Cut to $89.00

Adient PLC (NASDAQ:ADNT) had its price target lowered by research analysts at Royal Bank Of Canada from $96.00 to $89.00 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 13.09% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays PLC upped their target price on Adient PLC to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Robert W. Baird restated a “buy” rating on shares of Adient PLC in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Adient PLC from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, October 2nd. UBS AG upped their target price on Adient PLC from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, ValuEngine upgraded Adient PLC from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $72.92.

Shares of Adient PLC (NASDAQ ADNT) traded down $2.38 during mid-day trading on Friday, hitting $78.70. The company had a trading volume of 1,039,683 shares, compared to its average volume of 654,141. Adient PLC has a fifty-two week low of $39.66 and a fifty-two week high of $86.42.

Adient PLC (NASDAQ:ADNT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.13. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Adient PLC had a return on equity of 21.65% and a net margin of 5.63%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 earnings per share.

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In other news, Chairman R Bruce Mcdonald sold 4,607 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $68.67, for a total transaction of $316,362.69. Following the completion of the transaction, the chairman now directly owns 4,818 shares in the company, valued at $330,852.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Byron S. Foster sold 1,316 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $69.85, for a total transaction of $91,922.60. Following the transaction, the insider now owns 67,845 shares of the company’s stock, valued at $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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