Adient (NYSE:ADNT) Hits New 12-Month Low – Here’s What Happened

Adient plc (NYSE:ADNT)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.35 and last traded at $16.35, with a volume of 28573 shares trading hands. The stock had previously closed at $16.75.

Wall Street Analysts Forecast Growth

ADNT has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. StockNews.com upgraded Adient from a “hold” rating to a “buy” rating in a report on Saturday, December 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. Bank of America lowered shares of Adient from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Finally, Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $27.00 to $20.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Adient currently has an average rating of “Hold” and an average target price of $23.50.

Adient Price Performance

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 71.52, a P/E/G ratio of 0.32 and a beta of 2.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.11 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $19.14 and its two-hundred day simple moving average is $21.61.

Adient (NYSE:ADNT) last issued its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. Adient had a net margin of 0.12% and a return on equity of 6.86%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, analysts forecast that Adient plc will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other Adient news, EVP James Conklin sold 11,500 shares of Adient stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the completion of the transaction, the executive vice president now directly owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

Hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its holdings in Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Adient by 10,316.7% during the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after purchasing an additional 1,857 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the last quarter. KBC Group NV increased its stake in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after buying an additional 1,136 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after buying an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Adient

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.