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

Adient (NYSE:ADNT)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $16.72 and last traded at $17.0930, with a volume of 1359858 shares changing hands. The stock had previously closed at $17.10.

Wall Street Analyst Weigh In

ADNT has been the subject of several recent analyst reports. BNP Paribas Exane raised Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price for the company in a research report on Thursday, July 30th. Stifel Nicolaus reduced their price objective on Adient from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Wells Fargo & Company raised their price objective on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $28.00 target price on shares of Adient in a research note on Thursday, August 6th. Finally, Citigroup dropped their target price on Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.30.

Adient Stock Performance

The firm’s fifty day moving average price is $19.16 and its 200 day moving average price is $20.27. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $1.36 billion, a PE ratio of 29.38, a PEG ratio of 0.34 and a beta of 1.60.

Adient (NYSE:ADNT) last announced 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). The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Adient had a return on equity of 7.32% and a net margin of 0.32%.Adient’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, research analysts anticipate that Adient will post 2.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter Carlin sold 7,843 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $747,573.75. This trade represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adient

Several large investors have recently made changes to their positions in ADNT. Parallel Advisors LLC boosted its stake in shares of Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock worth $64,000 after acquiring an additional 517 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Adient by 10.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after acquiring an additional 705 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Adient by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after acquiring an additional 899 shares in the last quarter. Corient Private Wealth LP lifted its holdings in Adient by 5.7% in the 2nd quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock worth $356,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in Adient by 4.8% in the 1st quarter. Inspire Investing LLC now owns 25,814 shares of the company’s stock worth $522,000 after purchasing an additional 1,178 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc (NYSE: ADNT) is a global supplier of automotive seating systems and components. The company develops and manufactures complete vehicle seating solutions, including seats, seat structures, mechanisms, foam, trim, fabrics, and related technologies designed for passenger vehicles and commercial vehicles.

Adient serves automakers and automotive manufacturers across major vehicle-producing regions, including North America, Europe and Asia. Its products are supplied for a broad range of vehicle platforms, from traditional passenger cars and trucks to sport utility vehicles and electric vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business and is headquartered in Dublin, Ireland, with operations and engineering capabilities located around the world.