Adient (NYSE:ADNT) Sets New 12-Month Low - Here's What Happened

Adient plc (NYSE:ADNT - Get Free Report) shares hit a new 52-week low during trading 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 Analysts Forecast Growth

ADNT has been the topic of a number of research analyst reports. UBS Group raised their target price on Adient from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Bank of America downgraded Adient from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $24.00 to $18.00 in a research report on Tuesday, March 4th. Barclays lowered their target price on Adient from $24.00 to $21.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley reduced their price target on shares of Adient from $19.00 to $17.00 and set an "underweight" rating on the stock in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered shares of Adient from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $27.00 to $20.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.88.

Adient Stock Up 5.0 %

The stock has a 50-day moving average price of $16.16 and a 200-day moving average price of $18.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. The company has a market capitalization of $1.23 billion, a P/E ratio of 733.00, a P/E/G ratio of 0.34 and a beta of 2.27.

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Adient (NYSE:ADNT - Get Free Report) 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 posted $0.31 EPS. On average, research analysts predict that Adient plc will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adient

A number of institutional investors and hedge funds have recently modified their holdings of ADNT. Jefferies Financial Group Inc. boosted its stake in Adient by 44.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 13,318 shares of the company's stock worth $229,000 after acquiring an additional 4,077 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Adient by 105.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company's stock worth $6,358,000 after buying an additional 189,574 shares during the last quarter. Vident Advisory LLC bought a new position in Adient in the 4th quarter valued at about $463,000. Twinbeech Capital LP purchased a new stake in shares of Adient in the fourth quarter worth approximately $372,000. Finally, State of Wyoming raised its stake in shares of Adient by 145.7% in the fourth quarter. State of Wyoming now owns 15,912 shares of the company's stock worth $274,000 after purchasing an additional 9,435 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Adient Company Profile

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.