Adient (NYSE:ADNT) Sets New 1-Year Low - What's Next?

Adient (NYSE:ADNT - Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $16.72 and last traded at $17.0930, with a volume of 1359858 shares changing hands. The stock had previously closed at $17.10.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADNT shares. Barclays cut their target price on shares of Adient from $29.00 to $25.00 and set an "equal weight" rating for the company in a report on Monday, August 10th. Weiss Ratings lowered shares of Adient from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Citigroup dropped their price objective on shares of Adient from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. BNP Paribas Exane upgraded shares of Adient from a "neutral" rating to an "outperform" rating and set a $26.00 target price on the stock in a report on Thursday, July 30th. Finally, UBS Group decreased their target price on shares of Adient from $34.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.30.

Adient Trading Down 0.0%

The stock has a market cap of $1.32 billion, a PE ratio of 28.49, a PEG ratio of 0.35 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. The stock has a fifty day moving average price of $19.29 and a 200 day moving average price of $20.31.

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

Insiders Place Their Bets

In other news, Director Peter Carlin sold 7,843 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the sale, the director owned 38,835 shares of the company's stock, valued at approximately $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adient

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Adient by 117.8% during the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company's stock valued at $18,464,000 after buying an additional 494,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Adient by 179.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 527,356 shares of the company's stock worth $10,658,000 after buying an additional 338,517 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adient by 17.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company's stock worth $46,349,000 after acquiring an additional 336,306 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Adient by 61.7% during the 1st quarter. Bank of America Corp DE now owns 792,543 shares of the company's stock worth $16,017,000 after acquiring an additional 302,538 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Adient by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company's stock valued at $88,614,000 after acquiring an additional 211,843 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

About Adient

Adient plc NYSE: ADNT is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls' automotive seating business.

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