Adient plc (NYSE:ADNT – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $33.00 to $32.00. Wells Fargo & Company currently has an overweight rating on the stock. Adient traded as low as $24.89 and last traded at $24.91, with a volume of 140122 shares trading hands. The stock had previously closed at $25.50.
ADNT has been the topic of several other research reports. Barclays lowered their price objective on shares of Adient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 6th. Morgan Stanley decreased their target price on shares of Adient from $35.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Bank of America decreased their target price on shares of Adient from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Adient from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.13.
Insider Activity at Adient
In other Adient news, Director Peter Carlin sold 4,207 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.90, for a total value of $121,582.30. Following the sale, the director now owns 28,352 shares in the company, valued at approximately $819,372.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Adient
Several hedge funds have recently bought and sold shares of ADNT. Partnership Wealth Management LLC purchased a new stake in Adient in the 4th quarter worth approximately $83,000. Covestor Ltd boosted its position in Adient by 201.5% in the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after purchasing an additional 2,210 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Adient during the 1st quarter worth approximately $135,000. Headlands Technologies LLC acquired a new position in shares of Adient during the 1st quarter worth approximately $159,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Adient during the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Adient Trading Down 2.4 %
The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.13. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.35 and a beta of 2.31. The company has a 50 day moving average price of $28.04 and a two-hundred day moving average price of $31.86.
Adient (NYSE:ADNT – Get Free Report) last announced its earnings results on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.15. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.80 billion. Adient had a return on equity of 8.72% and a net margin of 1.04%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. On average, research analysts forecast that Adient plc will post 2.23 EPS for the current year.
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.