Adient (NYSE:ADNT) Sets New 1-Year Low – Here’s What Happened

Shares of Adient plc (NYSE:ADNT) hit a new 52-week low on Friday . The stock traded as low as $13.34 and last traded at $13.52, with a volume of 500323 shares. The stock had previously closed at $13.86.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADNT shares. StockNews.com lowered shares of Adient from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Bank of America downgraded shares of Adient from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. Wells Fargo & Company downgraded shares of Adient from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $27.00 to $20.00 in a research report on Monday, December 16th. UBS Group lifted their target price on shares of Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays dropped their price objective on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.88.

Adient Trading Down 1.3 %

The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The company’s fifty day moving average is $16.33 and its 200-day moving average is $18.82. The firm has a market capitalization of $1.15 billion, a P/E ratio of 686.70, a P/E/G ratio of 0.34 and a beta of 2.27.

Adient (NYSE:ADNT) last posted 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 quarter in the prior year, the company earned $0.31 EPS. As a group, sell-side analysts anticipate that Adient plc will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Adient

Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of Adient during the 4th quarter worth about $25,000. R Squared Ltd bought a new position in shares of Adient during the 4th quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in shares of Adient by 10,316.7% during the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after acquiring an additional 1,857 shares during the period. IFP Advisors Inc increased its position in shares of Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Adient by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock worth $47,000 after purchasing an additional 2,435 shares in the last quarter. 92.44% of the stock is owned by 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.