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

Adient plc (NYSE:ADNT) shares hit a new 52-week low during trading on Monday . The company traded as low as $16.75 and last traded at $16.77, with a volume of 73297 shares trading hands. The stock had previously closed at $16.85.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADNT shares. Morgan Stanley dropped their target price on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 target price on shares of Adient in a research report on Tuesday, September 10th. Bank of America cut shares of Adient from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $27.00 to $20.00 in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Adient from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.50.

Adient Stock Down 0.7 %

The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average price is $19.94 and its 200-day moving average price is $22.16. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 72.74, a price-to-earnings-growth ratio of 0.32 and a beta of 2.15.

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

Insiders Place Their Bets

In other news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction dated 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 $1,049,537.25. This represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

Several institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC lifted its position in Adient by 85.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock worth $3,779,000 after buying an additional 70,611 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in Adient by 125.3% during the second quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock valued at $12,669,000 after purchasing an additional 285,104 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Adient by 144.9% during the third quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock valued at $4,750,000 after purchasing an additional 124,539 shares during the last quarter. Magnetar Financial LLC grew its stake in Adient by 30.1% in the second quarter. Magnetar Financial LLC now owns 108,535 shares of the company’s stock valued at $2,682,000 after purchasing an additional 25,119 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC acquired a new position in shares of Adient during the 2nd quarter worth approximately $895,000. Institutional investors 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.