Adient (NYSE:ADNT) Sets New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADNT shares. Barclays lowered their price objective on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Wolfe Research assumed coverage on Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley cut their price target on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reduced their price target on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.38.

Adient Stock Up 0.1 %

The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average price is $21.56 and its two-hundred day moving average price is $24.29. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 0.39 and a beta of 2.18.

Adient (NYSE:ADNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a net margin of 0.50% and a return on equity of 6.34%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts anticipate that Adient plc will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Adient by 44.5% during the 2nd quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares during the period. US Bancorp DE grew its position in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares during the last quarter. Signaturefd LLC increased its stake in shares of Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the period. KBC Group NV lifted its holdings in Adient by 51.8% during the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Adient by 201.5% in the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after purchasing an additional 2,210 shares during the period. 92.44% of the stock is owned by institutional investors.

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.