Adient (NYSE:ADNT) Sets New 52-Week Low Following Weak Earnings

Adient (NYSE:ADNT) shares hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $15.80 and last traded at $16.2240, with a volume of 509,915 shares. The stock had previously closed at $16.92.

The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13). Adient had a return on equity of 7.32% and a net margin of 0.32%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s revenue was up 1.1% compared to the same quarter last year.

Analyst Ratings Changes

ADNT has been the subject of several recent research reports. Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Stifel Nicolaus reduced their target price on shares of Adient from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. UBS Group lowered their price target on shares of Adient from $29.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. JPMorgan Chase & Co. upgraded Adient from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $28.00 to $25.00 in a report on Tuesday, September 15th. 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 given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.90.

Insider Buying and Selling

In other Adient news, Director Peter Carlin sold 7,843 shares of Adient 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 transaction, the director directly 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 SEC, which is accessible through this link. Insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Adient

A number of hedge funds have recently modified their holdings of ADNT. Readystate Asset Management LP acquired a new position in shares of Adient in the 2nd quarter valued at approximately $1,078,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 purchasing an additional 338,517 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Adient by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 448,624 shares of the company’s stock worth $9,067,000 after buying an additional 71,055 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Adient during the 1st quarter worth approximately $1,404,000. Finally, Sei Investments Co. lifted its stake in Adient by 89.3% in the first quarter. Sei Investments Co. now owns 325,443 shares of the company’s stock valued at $6,577,000 after buying an additional 153,483 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Stock Performance

The stock has a market cap of $1.26 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 0.24 and a beta of 1.64. 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 stock’s 50 day simple moving average is $17.88 and its two-hundred day simple moving average is $20.53.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier specializing in the design, development and manufacture of vehicle seating systems. The company supplies complete seating assemblies as well as components such as seat structures, mechanisms, foam, fabrics, leather and other trim materials.

Adient works with automakers and other automotive customers to provide seating solutions for passenger cars, trucks, sport utility vehicles and commercial vehicles. Its offerings are designed to support vehicle comfort, safety, styling, weight reduction and manufacturing efficiency, with products developed for both traditional and electrified vehicles.

The company was formed in 2016 through the separation of Johnson Controls’ automotive seating business.