Adient (NYSE:ADNT) Sets New 52-Week Low – Time to Sell?

Adient (NYSE:ADNT)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $15.80 and last traded at $16.1060, with a volume of 369,295 shares traded. The stock had previously closed at $16.13.

Analysts Set New Price Targets

Several research firms have recently commented on ADNT. Deutsche Bank reaffirmed a “buy” rating and issued a $28.00 price target on shares of Adient in a report on Thursday, August 6th. Barclays dropped their price objective on shares of Adient from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. UBS Group cut their target price on shares of Adient from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. decreased their target price on Adient from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Finally, Zacks Research lowered Adient from a “hold” rating to a “strong sell” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.40.

Adient Price Performance

The company has a market capitalization of $1.25 billion, a P/E ratio of -67.35, a PEG ratio of 0.20 and a beta of 1.64. The company has a quick ratio of 0.90, a current ratio of 1.09 and a debt-to-equity ratio of 1.21. The business has a 50 day simple moving average of $17.65 and a 200-day simple moving average of $20.39.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.62 billion. Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. Analysts predict that Adient will post 2.94 EPS for the current fiscal year.

Insider Activity at Adient

In related news, Director Peter Carlin sold 7,843 shares of Adient stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the sale, the director directly owned 38,835 shares in the company, valued at $747,573.75. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in Adient during the second quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its stake in Adient by 126.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock valued at $31,000 after purchasing an additional 1,026 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Adient by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Adient during the 2nd quarter valued at $94,000. Finally, Meeder Asset Management Inc. increased its position in shares of Adient by 13.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,273 shares of the company’s stock valued at $139,000 after purchasing an additional 1,004 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Company Profile

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.