Adient (NYSE:ADNT) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Adient plc (NYSE:ADNT) reached a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $33.00 to $32.00. Wells Fargo & Company currently has an overweight rating on the stock. Adient traded as low as $24.89 and last traded at $24.91, with a volume of 140122 shares trading hands. The stock had previously closed at $25.50.

Several other research firms also recently commented on ADNT. JPMorgan Chase & Co. decreased their price target on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley decreased their price target on shares of Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Barclays reduced their price objective on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 6th. Finally, Bank of America reduced their price objective on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Adient currently has a consensus rating of “Hold” and a consensus target price of $39.13.

Insider Activity

In other news, Director Peter Carlin sold 4,207 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total value of $121,582.30. Following the sale, the director now directly owns 28,352 shares in the company, valued at approximately $819,372.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its holdings in Adient by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 17,327 shares of the company’s stock worth $630,000 after purchasing an additional 310 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Adient by 2.0% in the 1st quarter. ProShare Advisors LLC now owns 20,885 shares of the company’s stock valued at $688,000 after acquiring an additional 417 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Adient by 6.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,342 shares of the company’s stock valued at $275,000 after acquiring an additional 501 shares in the last quarter. Watershed Asset Management L.L.C. increased its stake in shares of Adient by 8.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 7,818 shares of the company’s stock valued at $284,000 after acquiring an additional 595 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Adient by 1.3% in the 1st quarter. Sei Investments Co. now owns 51,206 shares of the company’s stock valued at $1,686,000 after acquiring an additional 643 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Stock Down 1.9 %

The firm’s 50 day moving average price is $27.89 and its two-hundred day moving average price is $31.75. The company has a market cap of $2.19 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.33 and a beta of 2.31. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a net margin of 1.04% and a return on equity of 8.72%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Adient’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that Adient plc will post 2.26 EPS for the current fiscal year.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.