Adient (NYSE:ADNT) Reaches New 1-Year Low – Here’s Why

Adient plc (NYSE:ADNT) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.35 and last traded at $16.35, with a volume of 28573 shares changing hands. The stock had previously closed at $16.75.

Analyst Ratings Changes

A number of research firms have commented on ADNT. Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Morgan Stanley decreased their target price on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research report on Saturday, December 28th. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 target price on shares of Adient in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Adient Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 73.30, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The business’s 50 day moving average is $19.06 and its 200 day moving average is $21.55.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. Adient’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Equities analysts expect that Adient plc will post 2.04 earnings per share for the current year.

Insider Activity at Adient

In related news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the sale, the executive vice president now owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adient

Institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in Adient by 9.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after buying an additional 442,200 shares during the last quarter. Pacer Advisors Inc. grew its position in Adient by 38,074.9% in the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after acquiring an additional 5,130,969 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Adient by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after purchasing an additional 61,342 shares in the last quarter. State Street Corp lifted its stake in shares of Adient by 4.8% in the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock valued at $77,719,000 after purchasing an additional 158,017 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Adient by 45.0% in the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after purchasing an additional 877,142 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.