Adient (NYSE:ADNT) Hits New 1-Year Low – Here’s What Happened

Shares of Adient plc (NYSE:ADNT) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.15 and last traded at $19.16, with a volume of 14070 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

ADNT has been the subject of several analyst reports. Bank of America dropped their target price on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wolfe Research started coverage on Adient in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.13.

Adient Stock Performance

The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 81.87, a P/E/G ratio of 0.46 and a beta of 2.18. The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $21.26 and a 200-day moving average price of $23.67.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Adient plc will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the last quarter. US Bancorp DE increased its position in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock valued at $49,000 after acquiring an additional 1,822 shares during the period. KBC Group NV boosted its stake in Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the period. Finally, Covestor Ltd grew its position in Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

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.