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

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADNT. UBS Group cut their price objective on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Barclays lowered their price objective on Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wolfe Research started coverage on Adient in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America dropped their price target on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Adient in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.38.

Adient Stock Up 0.1 %

The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $21.56 and a two-hundred day moving average of $24.29. The firm 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, sell-side analysts anticipate that Adient plc will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock worth $36,000 after buying an additional 443 shares in the last quarter. US Bancorp DE grew its position in Adient by 583.8% during the 3rd quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares during the last quarter. Signaturefd LLC grew its position in Adient by 493.8% during the 3rd quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares during the last quarter. KBC Group NV raised its position in Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Covestor Ltd raised its position in Adient by 201.5% in the first 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 last quarter. Institutional investors own 92.44% of the company’s stock.

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.