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

Shares of Adient plc (NYSE:ADNT) reached a new 52-week low on Wednesday . The company traded as low as $10.24 and last traded at $10.33, with a volume of 1566691 shares changing hands. The stock had previously closed at $10.98.

Wall Street Analysts Forecast Growth

ADNT has been the subject of a number of research analyst reports. Barclays lowered their price objective 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. UBS Group reduced their price target on shares of Adient from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $24.00 to $18.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Morgan Stanley reduced 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Adient currently has an average rating of “Hold” and a consensus target price of $20.00.

Adient Stock Performance

The company has a market cap of $891.79 million, a price-to-earnings ratio of 531.25, a P/E/G ratio of 0.34 and a beta of 1.97. The stock’s fifty day simple moving average is $14.70 and its 200 day simple moving average is $17.74. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.27 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 previous year, the business posted $0.31 EPS. As a group, analysts anticipate that Adient plc will post 1.76 earnings per share for the current year.

Institutional Trading of Adient

Several hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in Adient during the 4th quarter worth about $25,000. R Squared Ltd purchased a new stake in shares of Adient during the fourth quarter worth approximately $32,000. Versant Capital Management Inc raised its holdings in Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after acquiring an additional 1,857 shares in the last quarter. IFP Advisors Inc grew its holdings in Adient by 6,924.2% during the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock worth $40,000 after acquiring an additional 2,285 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Adient by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,738 shares of the company’s stock valued at $47,000 after purchasing an additional 2,435 shares during the last quarter. Institutional investors and hedge funds 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.