Adient (NYSE:ADNT) Reaches New 12-Month High - Still a Buy?

Key Points

• Adient's stock reached a new 52-week high of $26.16, closing at $25.92 with a trading volume of 659,146 shares.
• Analysts are divided on Adient, with the consensus rating currently at "Reduce" and an average target price of $22.63.
• The company's latest earnings report revealed an EPS of $0.45, which fell short of the expected $0.47, while revenue increased by 0.7% year-over-year.

Adient (NYSE:ADNT - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $26.16 and last traded at $25.92, with a volume of 659146 shares trading hands. The stock had previously closed at $24.86.

Wall Street Analyst Weigh In

ADNT has been the subject of a number of recent analyst reports. Zacks Research lowered Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. UBS Group lifted their price objective on shares of Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley lifted their price objective on shares of Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Barclays lifted their price objective on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Adient presently has a consensus rating of "Reduce" and an average target price of $22.63.

Adient Stock Performance

The company has a market cap of $2.11 billion, a P/E ratio of -9.78, a P/E/G ratio of 0.83 and a beta of 1.77. The firm has a 50 day moving average price of $23.85 and a 200-day moving average price of $18.80. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company posted $0.32 EPS. The business's revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Adient will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

Several institutional investors have recently modified their holdings of the stock. Jump Financial LLC raised its holdings in Adient by 38.1% during the 1st quarter. Jump Financial LLC now owns 226,173 shares of the company's stock worth $2,909,000 after buying an additional 62,444 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Adient in the 1st quarter valued at about $1,036,000. Vanguard Group Inc. raised its holdings in Adient by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock valued at $44,820,000 after acquiring an additional 53,101 shares during the period. Entropy Technologies LP bought a new position in Adient in the 1st quarter valued at about $138,000. Finally, SG Americas Securities LLC acquired a new position in shares of Adient during the 1st quarter worth approximately $601,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.

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