Adient (NYSE:ADNT) Hits New 1-Year Low – Here’s Why

Adient plc (NYSE:ADNT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.69 and last traded at $11.74, with a volume of 177712 shares traded. The stock had previously closed at $12.82.

Analysts Set New Price Targets

ADNT has been the subject of several recent research reports. Barclays lowered their price objective on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. UBS Group lifted their target price on Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $20.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Adient presently has an average rating of “Hold” and a consensus price target of $20.88.

Adient Trading Down 3.1 %

The stock has a market cap of $973.62 million, a price-to-earnings ratio of 580.00, a P/E/G ratio of 0.34 and a beta of 1.97. The business’s 50 day moving average is $15.49 and its 200 day moving average is $18.21. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period last year, the firm earned $0.31 EPS. As a group, equities analysts expect that Adient plc will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Several hedge funds have recently added to or reduced their stakes in ADNT. Charles Schwab Investment Management Inc. grew its position in shares of Adient by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 963,446 shares of the company’s stock valued at $21,745,000 after buying an additional 55,387 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Adient by 66.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,461 shares of the company’s stock worth $4,050,000 after purchasing an additional 71,651 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Adient during the third quarter worth about $316,000. Centiva Capital LP purchased a new stake in shares of Adient in the 3rd quarter valued at about $440,000. Finally, Holocene Advisors LP boosted its position in shares of Adient by 48.3% in the 3rd quarter. Holocene Advisors LP now owns 172,661 shares of the company’s stock valued at $3,897,000 after purchasing an additional 56,224 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.