Adient (NYSE:ADNT) Sets New 1-Year Low – Here’s What Happened

Adient plc (NYSE:ADNT)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $13.34 and last traded at $13.52, with a volume of 500323 shares. The stock had previously closed at $13.86.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. StockNews.com lowered shares of Adient from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and cut their price target for the company from $24.00 to $18.00 in a research note on Tuesday, March 4th. Finally, Morgan Stanley cut their price target on shares of Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.88.

Adient Stock Performance

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 686.70, a P/E/G ratio of 0.34 and a beta of 2.27. The stock’s fifty day moving average is $16.33 and its two-hundred day moving average is $18.82. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT) last issued its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same quarter last year, the company earned $0.31 EPS. On average, analysts predict that Adient plc will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd boosted its position in shares of Adient by 10.6% in the fourth quarter. Covestor Ltd now owns 6,062 shares of the company’s stock valued at $104,000 after acquiring an additional 580 shares during the period. Mariner LLC lifted its holdings in shares of Adient by 8.6% in the fourth quarter. Mariner LLC now owns 10,157 shares of the company’s stock worth $175,000 after acquiring an additional 801 shares during the last quarter. KBC Group NV lifted its holdings in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after acquiring an additional 1,136 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Adient in the fourth quarter worth about $25,000. Finally, Oarsman Capital Inc. lifted its holdings in shares of Adient by 98.7% in the fourth quarter. Oarsman Capital Inc. now owns 2,966 shares of the company’s stock worth $51,000 after acquiring an additional 1,473 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Adient

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.