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

Adient plc (NYSE:ADNT) hit a new 52-week low during trading on Tuesday . The company traded as low as $19.15 and last traded at $19.16, with a volume of 14070 shares trading hands. The stock had previously closed at $19.75.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company lowered their price target on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $24.00 price target on shares of Adient in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley lowered their target price on Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.13.

Adient Price Performance

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 business has a 50-day simple moving average of $21.32 and a 200 day simple moving average of $23.80. The firm has a market cap of $1.69 billion, a P/E ratio of 85.87, a price-to-earnings-growth ratio of 0.46 and a beta of 2.18.

Adient (NYSE:ADNT) last announced its earnings results on Friday, November 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Adient had a return on equity of 6.86% and a net margin of 0.12%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, analysts anticipate that Adient plc will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adient

Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in Adient by 38,074.9% in the third quarter. Pacer Advisors Inc. now owns 5,144,445 shares of the company’s stock worth $116,110,000 after buying an additional 5,130,969 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Adient by 45.0% in the 3rd quarter. Pzena Investment Management LLC now owns 2,825,491 shares of the company’s stock valued at $63,771,000 after purchasing an additional 877,142 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Adient by 86.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,133,901 shares of the company’s stock valued at $28,019,000 after purchasing an additional 525,280 shares during the period. 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 valued at $117,298,000 after purchasing an additional 442,200 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Adient in the third quarter worth $6,653,000. 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.