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

Shares of Adient plc (NYSE:ADNT) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.55 and last traded at $12.69, with a volume of 619380 shares traded. The stock had previously closed at $13.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ADNT shares. Morgan Stanley decreased their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, March 3rd. StockNews.com downgraded Adient from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group boosted their price target on shares of Adient from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered shares of Adient from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Monday, December 16th. Finally, Barclays dropped their price objective on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Adient has an average rating of “Hold” and a consensus target price of $20.88.

Adient Stock Down 5.1 %

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 company’s fifty day moving average price is $16.04 and its 200-day moving average price is $18.55. The stock has a market cap of $1.08 billion, a P/E ratio of 641.25, a price-to-earnings-growth ratio of 0.34 and a beta of 2.27.

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

Hedge Funds Weigh In On Adient

Several hedge funds have recently bought and sold shares of ADNT. Pzena Investment Management LLC boosted its stake in shares of Adient by 28.5% during the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock valued at $62,535,000 after purchasing an additional 803,961 shares during the period. BNP Paribas Financial Markets increased its holdings in Adient by 144.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock worth $4,750,000 after purchasing an additional 124,539 shares during the period. Thrivent Financial for Lutherans grew its position in shares of 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 buying an additional 46,766 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of 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 buying an additional 109,850 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Adient by 263.6% during the fourth quarter. Quantbot Technologies LP now owns 80,294 shares of the company’s stock valued at $1,383,000 after buying an additional 58,209 shares during the period. 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.