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

Adient plc (NYSE:ADNT)’s share price hit a new 52-week low on Friday . The stock traded as low as $13.34 and last traded at $13.52, with a volume of 500323 shares trading hands. The stock had previously closed at $13.86.

Wall Street Analyst Weigh In

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

Adient Stock Up 0.4 %

The stock has a market capitalization of $1.17 billion, a P/E ratio of 695.75, a P/E/G ratio of 0.34 and a beta of 2.27. The firm’s fifty day moving average is $16.28 and its 200-day moving average is $18.73. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 earned $0.31 earnings per share. As a group, equities research analysts predict that Adient plc will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Adient

Institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC raised its stake in shares of 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 acquiring an additional 803,961 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Adient by 144.9% in the third quarter. BNP Paribas Financial Markets now owns 210,477 shares of the company’s stock worth $4,750,000 after acquiring an additional 124,539 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Adient by 202.8% in the third quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company’s stock worth $1,576,000 after acquiring an additional 46,766 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Adient by 36.5% in the third quarter. Principal Financial Group Inc. now owns 411,199 shares of the company’s stock worth $9,281,000 after acquiring an additional 109,850 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Adient during the third quarter worth approximately $725,000. 92.44% of the stock is owned by institutional investors.

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.