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Wells Fargo Thinks Adient’s Stock is Going to Recover

Wells Fargo analyst Colin Langan maintained a Buy rating on Adient (ADNTResearch Report) today and set a price target of $41.00. The company’s shares closed last Friday at $30.04, close to its 52-week low of $27.15.

According to TipRanks.com, Langan is a 1-star analyst with an average return of -1.5% and a 51.8% success rate. Langan covers the Industrial Goods sector, focusing on stocks such as Magna International, Dana Holding, and BorgWarner.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adient with a $38.33 average price target, implying a 29.2% upside from current levels. In a report issued on July 7, RBC Capital also maintained a Buy rating on the stock with a $39.00 price target.

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Based on Adient’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.51 billion and GAAP net loss of $81 million. In comparison, last year the company earned revenue of $3.82 billion and had a net profit of $69 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADNT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Adient plc manufactures automotive seating systems. The firm’s products include Complete Seats, Commercial vehicle seats, Structures & Mechanisms, Foam, Fabrics and Trim. It operates through the following segments: Seating, Seat Structures and Mechanism, and Interiors segments. The Seating segment produces automotive seat metal structures and mechanisms, foam, trim, and fabric. The Seat Structures and Mechanism segment produces seat structures and mechanisms for inclusion in complete seat systems that are produced by Adient or others. The Interiors segment offers instrument panels, floor consoles, door panels, overhead consoles, cockpit systems, and decorative trim. The company was founded on December 17, 2015 and is headquartered Dublin, Ireland.

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