Adient (NYSE:ADNT) Sets New 52-Week Low – Time to Sell?

Adient (NYSE:ADNT)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $15.80 and last traded at $16.1060, with a volume of 369,295 shares. The stock had previously closed at $16.13.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADNT. BNP Paribas Exane upgraded shares of Adient from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Thursday, July 30th. Morgan Stanley reduced their price objective on shares of Adient from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Weiss Ratings downgraded shares of Adient from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Wall Street Zen lowered shares of Adient from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus reduced their target price on shares of Adient from $26.00 to $21.00 and set a “buy” rating for the company in a report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adient has an average rating of “Hold” and an average target price of $24.40.

Adient Stock Up 0.2%

The business has a 50-day moving average price of $17.65 and a 200-day moving average price of $20.39. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -67.35, a price-to-earnings-growth ratio of 0.20 and a beta of 1.64. The company has a quick ratio of 0.90, a current ratio of 1.09 and a debt-to-equity ratio of 1.21.

Adient (NYSE:ADNT) last announced its earnings results on Wednesday, November 4th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.13). Adient had a negative net margin of 0.11% and a positive return on equity of 7.35%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Adient will post 2.94 earnings per share for the current fiscal year.

Insider Activity at Adient

In related news, Director Peter Carlin sold 7,843 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.25, for a total value of $150,977.75. Following the completion of the sale, the director owned 38,835 shares in the company, valued at approximately $747,573.75. This represents a 16.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.94% of the company’s stock.

Institutional Trading of Adient

Several large investors have recently added to or reduced their stakes in ADNT. Integrated Wealth Concepts LLC purchased a new stake in shares of Adient in the second quarter valued at $27,000. Farther Finance Advisors LLC grew its holdings in shares of Adient by 126.4% during the third quarter. Farther Finance Advisors LLC now owns 1,838 shares of the company’s stock valued at $31,000 after buying an additional 1,026 shares in the last quarter. Parallel Advisors LLC raised its position in Adient by 19.4% during the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after buying an additional 517 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Adient during the second quarter valued at $94,000. Finally, PNC Financial Services Group Inc. lifted its stake in Adient by 10.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after acquiring an additional 705 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Adient Company Profile

Adient plc is a global supplier of automotive seating systems and components. Its products include complete vehicle seats, seat structures and mechanisms, foam, and trim for passenger vehicles and commercial vehicles. The company works with automakers to design, engineer, and manufacture seating for vehicles sold around the world. Its operations and customer relationships span multiple major automotive markets. Adient became an independent company in 2016 after separating from Johnson Controls’ automotive seating business.