Adient (NYSE:ADNT) Stock Price Down 5.4% – Here’s What Happened

Adient plc (NYSE:ADNT)’s share price traded down 5.4% during mid-day trading on Thursday . The company traded as low as $19.17 and last traded at $19.23. 311,273 shares were traded during trading, a decline of 75% from the average session volume of 1,227,615 shares. The stock had previously closed at $20.32.

Wall Street Analysts Forecast Growth

ADNT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Barclays dropped their target price on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Adient in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their price target on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company cut their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.38.

Adient Price Performance

The stock’s fifty day moving average is $20.83 and its 200-day moving average is $22.98. 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 has a market capitalization of $1.65 billion, a P/E ratio of 85.61, a PEG ratio of 0.33 and a beta of 2.15.

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

Hedge Funds Weigh In On Adient

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Adient by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,647 shares of the company’s stock worth $1,865,000 after acquiring an additional 2,687 shares during the period. CWM LLC lifted its position in Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares during the period. SG Americas Securities LLC boosted its stake in Adient by 7.7% during the second quarter. SG Americas Securities LLC now owns 31,979 shares of the company’s stock worth $790,000 after buying an additional 2,296 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Adient by 3.2% in the second quarter. SummerHaven Investment Management LLC now owns 18,167 shares of the company’s stock valued at $449,000 after acquiring an additional 556 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Adient by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company’s stock worth $22,829,000 after buying an additional 5,426 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Company Profile

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.