Adient (NYSE:ADNT) Sets New 52-Week Low Following Analyst Downgrade

Adient plc (NYSE:ADNT)’s stock price reached a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $33.00 to $32.00. Wells Fargo & Company currently has an overweight rating on the stock. Adient traded as low as $24.89 and last traded at $24.91, with a volume of 140122 shares. The stock had previously closed at $25.50.

Several other research firms have also commented on ADNT. Morgan Stanley dropped their price objective on shares of Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 6th. Barclays dropped their target price on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Bank of America dropped their target price on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.13.

Insider Activity at Adient

In related news, Director Peter Carlin sold 4,207 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now owns 28,352 shares in the company, valued at $819,372.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Trading of Adient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in Adient by 959.8% during the fourth quarter. Teacher Retirement System of Texas now owns 109,359 shares of the company’s stock valued at $3,976,000 after buying an additional 99,040 shares during the last quarter. Foundry Partners LLC purchased a new stake in Adient during the fourth quarter valued at approximately $3,899,000. Franklin Resources Inc. increased its holdings in Adient by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock valued at $117,558,000 after buying an additional 37,010 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Adient by 5.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,469,049 shares of the company’s stock valued at $162,495,000 after buying an additional 229,963 shares during the last quarter. Finally, Levin Capital Strategies L.P. purchased a new stake in Adient during the fourth quarter valued at approximately $436,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Trading Down 2.4 %

The firm has a market capitalization of $2.24 billion, a PE ratio of 15.27, a PEG ratio of 0.35 and a beta of 2.31. The company has a quick ratio of 0.91, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. The stock’s fifty day simple moving average is $27.96 and its 200 day simple moving average is $31.80.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Adient had a net margin of 1.04% and a return on equity of 8.72%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. On average, sell-side analysts predict that Adient plc will post 2.23 earnings per share for the current year.

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.