Adient (NYSE:ADNT) Reaches New 1-Year Low – Here’s What Happened

Shares of Adient (NYSE:ADNT) reached a new 52-week low during trading on Thursday. The stock traded as low as $17.27 and last traded at $17.2810, with a volume of 44574 shares changing hands. The stock had previously closed at $17.88.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Citigroup dropped their price objective 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 lowered Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Zacks Research upgraded Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. UBS Group dropped 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. Finally, Wall Street Zen cut Adient from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.30.

Adient Trading Up 3.7%

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 cap of $1.36 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 0.34 and a beta of 1.52. The business’s 50-day moving average price is $19.40 and its two-hundred day moving average price is $20.37.

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

Insider Activity

In other news, Director Peter Carlin sold 7,843 shares of the firm’s 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 sale, the director owned 38,835 shares in the company, valued at $747,573.75. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is owned by company insiders.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Adient by 179.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company’s stock worth $10,658,000 after acquiring an additional 338,517 shares during the period. Principal Financial Group Inc. boosted its position in shares of Adient by 18.8% in the first quarter. Principal Financial Group Inc. now owns 448,624 shares of the company’s stock worth $9,067,000 after acquiring an additional 71,055 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Adient in the second quarter valued at approximately $1,078,000. Segall Bryant & Hamill LLC purchased a new stake in Adient in the first quarter valued at approximately $1,404,000. Finally, Sei Investments Co. increased its position in Adient by 89.3% during the first quarter. Sei Investments Co. now owns 325,443 shares of the company’s stock worth $6,577,000 after purchasing an additional 153,483 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Company Profile

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.