Adient (NYSE:ADNT) Hits New 1-Year Low – What’s Next?

Adient plc (NYSE:ADNT)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $19.38 and last traded at $19.40, with a volume of 12521 shares. The stock had previously closed at $19.74.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADNT shares. Barclays reduced their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Bank of America dropped their price target on shares of Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 14th. UBS Group lowered their target price on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Adient currently has a consensus rating of “Hold” and a consensus target price of $25.38.

Adient Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $24.38. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 0.39 and a beta of 2.18.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.30). Adient had a return on equity of 6.34% and a net margin of 0.50%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Adient plc will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADNT. Dimensional Fund Advisors LP raised its stake in Adient by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,078,070 shares of the company’s stock valued at $125,480,000 after purchasing an additional 61,342 shares during the period. Vanguard Group Inc. lifted its position in shares of Adient by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 2,732,345 shares of the company’s stock worth $99,348,000 after purchasing an additional 246,038 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Adient by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,616,457 shares of the company’s stock worth $39,943,000 after purchasing an additional 17,833 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after buying an additional 525,280 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Adient by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 923,881 shares of the company’s stock valued at $22,829,000 after acquiring an additional 5,426 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.