Adient (NYSE:ADNT) Reaches New 52-Week Low – What’s Next?

Shares of Adient plc (NYSE:ADNT) reached a new 52-week low during trading on Friday . The company traded as low as $16.35 and last traded at $16.35, with a volume of 28573 shares. The stock had previously closed at $16.75.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several research reports. Morgan Stanley cut their target price on Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com raised Adient from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. Wells Fargo & Company cut shares of Adient from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.50.

Adient Stock Performance

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 73.30, a price-to-earnings-growth ratio of 0.32 and a beta of 2.16. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The stock’s fifty day moving average is $19.06 and its two-hundred day moving average is $21.55.

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

Insider Transactions at Adient

In other news, EVP James Conklin sold 11,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were 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 trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Adient by 38,074.9% during the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after acquiring an additional 5,130,969 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Adient by 45.0% during the third quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after acquiring an additional 877,142 shares during the period. D. E. Shaw & Co. Inc. grew its position 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 worth $28,019,000 after purchasing an additional 525,280 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Adient by 9.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after buying an additional 442,200 shares during the period. Finally, Empowered Funds LLC bought a new position in Adient in the 3rd quarter worth approximately $6,653,000. 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.