Adient (NYSE:ADNT) Sets New 12-Month Low – Time to Sell?

Adient (NYSE:ADNT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.27 and last traded at $17.2810, with a volume of 44574 shares. The stock had previously closed at $17.88.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ADNT shares. JPMorgan Chase & Co. upgraded Adient from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $28.00 to $25.00 in a research note on Tuesday, September 15th. UBS Group reduced their price target on shares of Adient from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company lifted their price objective on shares of Adient from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Citigroup dropped their target price on shares of Adient from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, BNP Paribas Exane raised shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.30.

Adient Stock Performance

The business has a 50-day moving average price of $19.52 and a 200-day moving average price of $20.42. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 0.37 and a beta of 1.52. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). Adient had a net margin of 0.32% and a return on equity of 7.32%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Adient will post 2.02 earnings per share for the current year.

Insider Activity

In other news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total transaction of $150,977.75. Following the transaction, the director owned 38,835 shares in the company, valued at $747,573.75. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Adient

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in shares of Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after acquiring an additional 517 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Adient by 10.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after purchasing an additional 705 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Adient by 5.2% during the 4th quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after purchasing an additional 899 shares during the period. Corient Private Wealth LP increased its holdings in Adient by 5.7% during the 2nd quarter. Corient Private Wealth LP now owns 19,371 shares of the company’s stock worth $356,000 after purchasing an additional 1,038 shares during the period. Finally, Inspire Investing LLC raised its position in Adient by 4.8% in the 1st quarter. Inspire Investing LLC now owns 25,814 shares of the company’s stock valued at $522,000 after purchasing an additional 1,178 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Adient

Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.

The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.

Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.