Adient (NYSE:ADNT) Reaches New 52-Week Low – Here’s Why

Adient plc (NYSE:ADNT) shares reached a new 52-week low on Monday . The stock traded as low as $18.46 and last traded at $18.46, with a volume of 12616 shares traded. The stock had previously closed at $18.96.

Analyst Ratings Changes

Several research firms recently weighed in on ADNT. Wolfe Research started coverage on Adient in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $24.00 in a report on Thursday, November 21st. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Morgan Stanley reduced their target price on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lowered Adient from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $27.00 to $20.00 in a research note on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.50.

Adient Stock Down 0.1 %

The company has a quick ratio of 0.90, a current ratio of 1.11 and a debt-to-equity ratio of 0.98. The business has a 50-day simple moving average of $20.30 and a two-hundred day simple moving average of $22.47. The stock has a market capitalization of $1.49 billion, a P/E ratio of 76.52, a PEG ratio of 0.32 and a beta of 2.15.

Adient (NYSE:ADNT) last posted its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities research analysts forecast that Adient plc will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Adient

In other Adient news, EVP James Conklin sold 11,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $20.25, for a total transaction of $232,875.00. Following the transaction, the executive vice president now owns 51,829 shares of the company’s stock, valued at approximately $1,049,537.25. This represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Adient

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Adient by 85.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,694 shares of the company’s stock valued at $1,305,000 after purchasing an additional 27,491 shares during the period. M&T Bank Corp acquired a new position in Adient in the third quarter valued at approximately $357,000. Barclays PLC boosted its stake in Adient by 127.0% in the third quarter. Barclays PLC now owns 208,239 shares of the company’s stock valued at $4,701,000 after acquiring an additional 116,518 shares during the last quarter. State Street Corp grew its holdings in Adient by 4.8% during the 3rd quarter. State Street Corp now owns 3,443,471 shares of the company’s stock worth $77,719,000 after acquiring an additional 158,017 shares during the period. Finally, Readystate Asset Management LP raised its position in shares of Adient by 122.7% during the 3rd quarter. Readystate Asset Management LP now owns 24,330 shares of the company’s stock valued at $549,000 after acquiring an additional 13,406 shares during the last quarter. Institutional investors 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.