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

by · The Cerbat Gem

Adient plc (NYSE:ADNT – Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $13.58 and last traded at $13.60, with a volume of 255623 shares trading hands. The stock had previously closed at $13.98.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADNT shares. Morgan Stanley dropped their price target on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, March 3rd. Bank of America cut Adient from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. Wells Fargo & Company cut Adient from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $27.00 to $20.00 in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, StockNews.com cut Adient from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.88.

Check Out Our Latest Stock Report on ADNT

Adient Price Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The stock has a market capitalization of $1.13 billion, a P/E ratio of 673.80, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27. The firm has a 50-day moving average price of $16.71 and a 200 day moving average price of $19.15.

Adient (NYSE:ADNT – Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts expect that Adient plc will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Adient

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Adient by 144.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock valued at $4,750,000 after purchasing an additional 124,539 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Adient by 202.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company’s stock worth $1,576,000 after acquiring an additional 46,766 shares during the last quarter. Pzena Investment Management LLC grew its position in Adient by 28.5% during the 4th quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after acquiring an additional 803,961 shares during the last quarter. Principal Financial Group Inc. grew its position in Adient by 36.5% during the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock worth $9,281,000 after acquiring an additional 109,850 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Adient during the 3rd quarter worth approximately $725,000. 92.44% of the stock is currently owned by institutional investors.

About Adient

(Get Free Report)

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.

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