Adient (NYSE:ADNT) Sets New 1-Year Low – Time to Sell?

Adient plc (NYSE:ADNT)’s stock price hit a new 52-week low on Friday . The company 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Adient from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company downgraded shares of 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. Barclays reduced their price target on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Adient presently has a consensus rating of “Hold” and a consensus target price of $20.88.

Adient Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average price is $16.04 and its two-hundred 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 posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share 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 firm earned $0.31 EPS. As a group, sell-side analysts expect that Adient plc will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in Adient by 28.5% in the fourth quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company’s stock worth $62,535,000 after purchasing an additional 803,961 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Adient in the fourth quarter worth approximately $11,395,000. Millennium Management LLC grew its position in Adient by 2,039.0% during the fourth quarter. Millennium Management LLC now owns 610,312 shares of the company’s stock valued at $10,516,000 after buying an additional 581,779 shares during the period. HITE Hedge Asset Management LLC increased its holdings in Adient by 122.4% during the fourth quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company’s stock valued at $14,065,000 after buying an additional 449,272 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Adient by 9.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,197,090 shares of the company’s stock worth $117,298,000 after acquiring an additional 442,200 shares during the last quarter. 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.