Adient (NYSE:ADNT) Sets New 12-Month Low – Time to Sell?

Shares of Adient (NYSE:ADNT) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.56 and last traded at $17.5590, with a volume of 341848 shares changing hands. The stock had previously closed at $18.47.

Analysts Set New Price Targets

ADNT has been the subject of several research analyst reports. Citigroup cut their price objective on Adient from $33.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 price target on shares of Adient in a research report on Thursday, August 6th. Stifel Nicolaus dropped their price target on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, UBS Group decreased their price target on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.30.

Adient Stock Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 0.37 and a beta of 1.52. The firm’s fifty day moving average is $19.65 and its 200 day moving average is $20.56.

Adient (NYSE:ADNT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Adient will post 2.02 EPS for the current fiscal year.

Insider Buying and Selling at Adient

In related news, Director Peter Carlin sold 7,843 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the sale, the director directly owned 38,835 shares in the company, valued at approximately $747,573.75. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADNT. Dimensional Fund Advisors LP increased its position in Adient by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after purchasing an additional 211,843 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Adient by 17.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after buying an additional 336,306 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in shares of Adient by 5.3% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,576,385 shares of the company’s stock valued at $30,219,000 after buying an additional 79,549 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Adient by 117.8% in the 1st quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after buying an additional 494,054 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock valued at $16,017,000 after acquiring an additional 302,538 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.