Adient (NYSE:ADNT) Sets New 1-Year Low – Time to Sell?

Adient plc (NYSE:ADNT)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.69 and last traded at $11.74, with a volume of 177712 shares trading hands. The stock had previously closed at $12.82.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group raised their price target on Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $27.00 to $20.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Barclays reduced their target price on Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Adient has an average rating of “Hold” and a consensus target price of $20.88.

Adient Stock Down 7.3 %

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $18.32. The firm has a market cap of $997.29 million, a PE ratio of 594.45, a PEG ratio of 0.34 and a beta of 1.97.

Adient (NYSE:ADNT) last posted its quarterly 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 positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period in the previous year, the business posted $0.31 earnings per share. Sell-side analysts predict that Adient plc will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in shares of Adient by 28.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after purchasing an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Adient in the 4th quarter worth about $11,395,000. Millennium Management LLC lifted its stake in Adient by 2,039.0% during the 4th quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock valued at $10,516,000 after acquiring an additional 581,779 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in shares of Adient by 122.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock valued at $14,065,000 after acquiring an additional 449,272 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Adient by 96.5% in the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company’s stock worth $13,828,000 after acquiring an additional 394,111 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.