Adient (NYSE:ADNT) Trading Down 7% – What’s Next?

Adient (NYSE:ADNT)’s share price dropped 7% on Tuesday . The stock traded as low as $18.63 and last traded at $18.6050. 368,790 shares traded hands during trading, a decline of 64% from the average daily volume of 1,012,875 shares. The stock had previously closed at $20.01.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADNT. Weiss Ratings cut Adient from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Barclays lowered their price objective on Adient from $29.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Zacks Research cut Adient from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Wells Fargo & Company raised their target price on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Stifel Nicolaus reduced their price target on Adient from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Adient has an average rating of “Hold” and an average price target of $26.60.

Adient Trading Up 1.9%

The stock has a market cap of $1.44 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 0.38 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. The company’s 50-day moving average price is $19.70 and its 200 day moving average price is $20.81.

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

Insider Activity at Adient

In other news, Director Peter Carlin sold 7,843 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total transaction of $150,977.75. Following the completion of the transaction, the director directly owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Adient by 10.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock valued at $152,000 after acquiring an additional 705 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Adient by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock valued at $347,000 after acquiring an additional 899 shares during the period. Corient Private Wealth LP raised its stake in shares of Adient by 5.7% in the 2nd quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock valued at $356,000 after acquiring an additional 1,038 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Adient by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,065 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.