Adient (NYSE:ADNT) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Shares of Adient (NYSE:ADNT) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $19.76 and traded as low as $18.60. Adient shares last traded at $19.09, with a volume of 852,023 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BNP Paribas Exane raised shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Morgan Stanley dropped their price target on Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Barclays reduced 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. Finally, Weiss Ratings downgraded Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. 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. According to data from MarketBeat, Adient currently has an average rating of “Hold” and a consensus price target of $26.60.

Adient Stock Up 1.4%

The company’s fifty day moving average price is $19.76 and its 200-day moving average price is $21.24. The stock has a market cap of $1.47 billion, a P/E ratio of 31.82, 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.

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

Insider Activity

In other Adient news, EVP Heather M. Tiltmann sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $22.71, for a total transaction of $499,620.00. Following the completion of the transaction, the executive vice president owned 110,886 shares in the company, valued at $2,518,221.06. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in 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 acquiring an additional 517 shares during the period. PNC Financial Services Group Inc. grew its position in Adient by 10.3% in the 1st 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 increased its stake in Adient by 5.2% in the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after purchasing an additional 899 shares during the period. Corient Private Wealth LP increased its stake in Adient by 5.7% in the second quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock worth $356,000 after purchasing an additional 1,038 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Adient by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,947 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,065 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

About Adient

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.