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

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

Analyst Ratings Changes

A number of research firms have commented on ADNT. Zacks Research raised Adient from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 16th. Stifel Nicolaus dropped their price objective on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Citigroup reduced their price objective on Adient from $33.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. 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. Finally, Barclays lowered their target price on shares of Adient from $29.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.30.

Adient Price Performance

The firm has a fifty day moving average price of $19.52 and a two-hundred day moving average price of $20.42. The stock has a market capitalization of $1.32 billion, a P/E ratio of 28.55, a PEG ratio of 0.37 and a beta of 1.52. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10.

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

Insiders Place Their Bets

In other news, Director Peter Carlin sold 7,843 shares of Adient stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the transaction, the director owned 38,835 shares in the company, valued at $747,573.75. This trade represents a 16.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Adient

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 211,843 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 buying an additional 336,306 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its position in shares of Adient by 5.3% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,576,385 shares of the company’s stock valued at $30,219,000 after buying an additional 79,549 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Adient by 117.8% during the 1st quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after acquiring an additional 494,054 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 302,538 shares during the period. 92.44% of the stock is owned by institutional investors.

About Adient

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.