Fintel reports that on July 20, 2023, JP Morgan maintained coverage of Adient (NYSE:ADNT) with a Neutral recommendation.
Analyst Price Forecast Suggests 8.12% Upside
As of July 6, 2023, the average one-year price target for Adient is 45.46. The forecasts range from a low of 29.29 to a high of $60.90. The average price target represents an increase of 8.12% from its latest reported closing price of 42.05.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adient is 14,729MM, a decrease of 0.12%. The projected annual non-GAAP EPS is 2.26.
What is the Fund Sentiment?
There are 615 funds or institutions reporting positions in Adient. This is an increase of 4 owner(s) or 0.65% in the last quarter. Average portfolio weight of all funds dedicated to ADNT is 0.23%, an increase of 18.84%. Total shares owned by institutions decreased in the last three months by 1.73% to 112,655K shares. 
The put/call ratio of ADNT is 0.60, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 12,269K shares representing 12.96% ownership of the company. In it's prior filing, the firm reported owning 12,267K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in ADNT by 14.51% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 4,868K shares representing 5.14% ownership of the company. No change in the last quarter.
Hotchkis & Wiley Capital Management holds 4,279K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 4,632K shares, representing a decrease of 8.24%. The firm increased its portfolio allocation in ADNT by 9.58% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 3,975K shares representing 4.20% ownership of the company. No change in the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 3,438K shares representing 3.63% ownership of the company. No change in the last quarter.
Adient Background Information
(This description is provided by the company.)
Adient is a global leader in automotive seating. With approximately 77,000 employees in 32 countries, Adient operates 202 manufacturing/assembly plants worldwide. Adient produces and delivers automotive seating for all major OEMs. From complete seating systems to individual components, Adient's expertise spans every step of the automotive seat-making process. Adient's integrated, in-house skills allow it to take its products from research and design to engineering and manufacturing - and into more than 19 million vehicles every year.
Additional reading:
- Adient – PUBLIC J.P. Morgan Auto Group Investor Meeting Adient China Business Update June 1, 2023 Exhibit 99.1 Adient – PUBLIC Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties
- Adient plc Condensed Consolidated Statements of Income
- Amendment Agreement No. 1, dated March 13, 2023, to Amended and Restated Revolving Credit Agreement, dated as of November 2, 2022, among Adient US LLC, the other borrower subsidiaries party thereto, the lenders party thereto, the issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
- Amendment Agreement No. 2, dated March 13, 2023, to Amended and Restated Revolving Credit Agreement, dated as of November 2, 2022, among Adient US LLC, the other borrower subsidiaries party thereto, the lenders party thereto, the issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
- Amendment Agreement, dated March 13, 2023, to Term Loan Credit Agreement, dated as of May 6, 2019, among Adient US LLC, Adient Global Holdings S.à r.l., the lenders party thereto and Bank of America, N.A., as Administrative Agent and Collateral Agent.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
