Adient (NYSE:ADNT) Trading Down 9.1% – Here’s Why

Adient plc (NYSE:ADNT)’s stock price was down 9.1% on Thursday . The stock traded as low as $13.55 and last traded at $13.72. Approximately 240,936 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,289,076 shares. The stock had previously closed at $15.09.

Analysts Set New Price Targets

A number of research firms recently commented on ADNT. Morgan Stanley reduced their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday, March 3rd. UBS Group increased their price objective on Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Bank of America downgraded Adient from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. StockNews.com cut shares of Adient from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, 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 note on Wednesday, January 22nd. 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.88.

Adient Trading Down 5.1 %

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 stock has a market capitalization of $1.08 billion, a PE ratio of 641.25, a P/E/G ratio of 0.34 and a beta of 2.27. The stock has a 50 day moving average price of $15.95 and a 200-day moving average price of $18.49.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 EPS 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 period in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts expect that Adient plc will post 1.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Adient by 8.4% in the third quarter. Victory Capital Management Inc. now owns 20,977 shares of the company’s stock worth $473,000 after buying an additional 1,633 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Adient by 202.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 69,831 shares of the company’s stock worth $1,576,000 after purchasing an additional 46,766 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Adient during the 3rd quarter valued at about $725,000. Charles Schwab Investment Management Inc. grew its position in shares of Adient by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 963,446 shares of the company’s stock valued at $21,745,000 after purchasing an additional 55,387 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Adient by 30.2% in the third quarter. Citigroup Inc. now owns 265,534 shares of the company’s stock worth $5,993,000 after purchasing an additional 61,531 shares during the last quarter. 92.44% of the stock is currently 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.