Adient (NYSE:ADNT) Stock Price Down 7% – What’s Next?

Shares of Adient (NYSE:ADNT) traded down 7% during trading on Tuesday . The stock traded as low as $18.63 and last traded at $18.6050. Approximately 368,790 shares were traded during trading, a decline of 64% from the average session volume of 1,012,875 shares. The stock had previously closed at $20.01.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup decreased their target price on shares of Adient from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. UBS Group cut their price target on Adient from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Adient from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Adient presently has an average rating of “Hold” and an average target price of $26.60.

Adient Stock Down 6.3%

The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The business has a 50-day simple moving average of $19.68 and a 200-day simple moving average of $20.91. The stock has a market cap of $1.44 billion, a P/E ratio of 31.08, a PEG ratio of 0.40 and a beta of 1.52.

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

Insider Buying and Selling

In other news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 38,835 shares in the company, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Adient

Several hedge funds and other institutional investors have recently bought and sold shares of ADNT. Leonteq Securities AG acquired a new stake in Adient during the fourth quarter worth about $30,000. Quarry LP raised its stake in shares of Adient by 163.9% in the third quarter. Quarry LP now owns 2,304 shares of the company’s stock valued at $55,000 after purchasing an additional 1,431 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Adient during the second quarter worth $63,000. Finally, Los Angeles Capital Management LLC bought a new stake in Adient in the 4th quarter valued at $64,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.