Adient (NYSE:ADNT) Sets New 12-Month Low – What’s Next?

Adient (NYSE:ADNT) shares hit a new 52-week low during trading on Wednesday. The stock traded as low as $15.80 and last traded at $16.1060, with a volume of 369,295 shares traded. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

ADNT has been the subject of a number of recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Adient in a research report on Thursday, August 6th. UBS Group decreased their target price on shares of Adient from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Morgan Stanley dropped their target price on shares of Adient from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 18th. Barclays cut their target price on Adient from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Finally, Citigroup lowered their price target on shares of Adient from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.40.

Adient Price Performance

The stock has a market capitalization of $1.23 billion, a PE ratio of -66.50, a P/E/G ratio of 0.20 and a beta of 1.64. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.09 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $17.54 and its 200 day simple moving average is $20.33.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. Adient’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. As a group, equities analysts forecast that Adient will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 7,843 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the transaction, the director owned 38,835 shares in the company, valued at approximately $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of Adient by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock valued at $88,614,000 after buying an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership increased its position in 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 purchasing an additional 336,306 shares during the period. Bank of America Corp DE increased its position in Adient by 61.7% during the 1st quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock valued at $16,017,000 after purchasing an additional 302,538 shares during the period. Empowered Funds LLC increased its position in Adient by 23.5% during the 1st quarter. Empowered Funds LLC now owns 554,572 shares of the company’s stock valued at $11,208,000 after purchasing an additional 105,435 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Adient by 179.3% in 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 purchasing an additional 338,517 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

About Adient

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.