Adient (NYSE:ADNT) Sets New 12-Month Low – Here’s What Happened

Adient plc (NYSE:ADNT)’s share price hit a new 52-week low on Friday . The stock traded as low as $12.55 and last traded at $12.69, with a volume of 619380 shares. The stock had previously closed at $13.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday, March 3rd. Bank of America downgraded Adient from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $24.00 to $18.00 in a research note on Tuesday, March 4th. Barclays dropped their price target on Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut 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, JPMorgan Chase & Co. dropped their target price on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.88.

Adient Price Performance

The company has a market cap of $1.08 billion, a P/E ratio of 641.25, a PEG ratio of 0.34 and a beta of 2.27. The firm’s 50-day moving average is $15.95 and its two-hundred day moving average is $18.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. During the same quarter in the previous year, the firm earned $0.31 EPS. Analysts anticipate that Adient plc will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pzena Investment Management LLC increased its position in Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock valued at $62,535,000 after acquiring an additional 803,961 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Adient by 144.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock valued at $4,750,000 after purchasing an additional 124,539 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Adient by 202.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company’s stock worth $1,576,000 after purchasing an additional 46,766 shares during the period. Principal Financial Group Inc. lifted its stake in Adient by 36.5% in the third quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock worth $9,281,000 after purchasing an additional 109,850 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Adient by 263.6% during the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company’s stock valued at $1,383,000 after buying an additional 58,209 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.