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

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

Wall Street Analysts Forecast Growth

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

Adient Price Performance

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

Adient (NYSE:ADNT) last announced its quarterly earnings results 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 period in the prior year, the company posted $0.31 EPS. On average, sell-side analysts anticipate that Adient plc will post 1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in Adient in the fourth quarter worth $25,000. R Squared Ltd purchased a new position in Adient in the fourth quarter worth $32,000. US Bancorp DE boosted its position in Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after purchasing an additional 1,588 shares during the last quarter. Versant Capital Management Inc boosted its position in Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after purchasing an additional 1,857 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Adient by 6,924.2% in the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after purchasing an additional 2,285 shares during the last quarter. Hedge funds and other 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.