Adient (NYSE:ADNT) Sets New 12-Month Low Following Analyst Downgrade

Adient plc (NYSE:ADNT - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $50.00 to $46.00. Bank of America currently has a buy rating on the stock. Adient traded as low as $29.82 and last traded at $30.19, with a volume of 100780 shares. The stock had previously closed at $31.78.

A number of other brokerages also recently issued reports on ADNT. TheStreet downgraded shares of Adient from a "b-" rating to a "c+" rating in a research note on Tuesday, December 12th. Wells Fargo & Company reduced their price objective on shares of Adient from $41.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, February 8th. Barclays restated an "equal weight" rating and issued a $37.00 price target (down from $41.00) on shares of Adient in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Adient from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Adient currently has an average rating of "Hold" and an average price target of $42.86.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total transaction of $336,800.00. Following the completion of the transaction, the executive vice president now owns 55,669 shares in the company, valued at approximately $1,874,931.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company's stock.

Institutional Trading of Adient

Several large investors have recently modified their holdings of the stock. First Hawaiian Bank grew its position in shares of Adient by 21.1% during the 1st quarter. First Hawaiian Bank now owns 23,574 shares of the company's stock worth $776,000 after buying an additional 4,100 shares during the period. Quadrature Capital Ltd grew its position in Adient by 46.8% in the 4th quarter. Quadrature Capital Ltd now owns 8,668 shares of the company's stock valued at $315,000 after purchasing an additional 2,764 shares during the period. Vanguard Group Inc. grew its position in Adient by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company's stock valued at $99,348,000 after purchasing an additional 246,038 shares during the period. Goldman Sachs Group Inc. grew its position in Adient by 1.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,010 shares of the company's stock valued at $63,012,000 after purchasing an additional 25,534 shares during the period. Finally, Quarry LP acquired a new stake in Adient in the 4th quarter valued at $25,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Trading Down 4.8 %

The firm's 50-day moving average is $33.55 and its 200-day moving average is $34.10. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.29 and a beta of 2.51.

Adient (NYSE:ADNT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.16). Adient had a net margin of 1.39% and a return on equity of 7.90%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $0.34 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adient plc will post 2.65 EPS for the current fiscal year.

Adient Company Profile

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.