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

Key Points

• Adient shares fell below their 50-day moving average, trading as low as $18.60 versus the $19.76 average, and last changing hands at $19.09.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating with a consensus price target of $26.60, although several firms recently cut targets and Zacks Research downgraded it to “Strong Sell.”
• Adient beat revenue expectations but missed quarterly EPS estimates, reporting $0.48 per share versus the expected $0.56; an executive also sold 22,000 shares, while institutional investors own 92.44% of the stock.

Adient (NYSE:ADNT - Get Free Report) shares 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 traded.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of Adient from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 18th. Citigroup dropped their target price on shares of Adient from $33.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. BNP Paribas Exane raised Adient from a "neutral" rating to an "outperform" rating and set a $26.00 price target on the stock in a report on Thursday, July 30th. UBS Group lowered their price objective on Adient from $34.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research lowered Adient from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $26.60.

Adient Price Performance

The firm's fifty day moving average price is $19.76 and its 200 day moving average price is $21.24. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The stock has a market cap of $1.47 billion, a PE ratio of 31.82, a P/E/G ratio of 0.38 and a beta of 1.52.

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

Insider Activity at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm's stock in a transaction dated 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. This trade represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adient

Hedge funds have recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in Adient during the 4th quarter valued at approximately $30,000. Quarry LP raised its holdings in shares of Adient by 163.9% during the 3rd quarter. Quarry LP now owns 2,304 shares of the company's stock worth $55,000 after acquiring an additional 1,431 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Adient during the 2nd quarter worth approximately $63,000. Parallel Advisors LLC boosted its position in shares of 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 last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Adient during the 4th quarter valued at approximately $64,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Adient Company Profile

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.

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