Adient (ADNT) Stock Price Down 11.6%

Adient PLC (NYSE:ADNT)’s share price dropped 11.6% on Thursday . The company traded as low as $17.80 and last traded at $18.04. Approximately 3,647,579 shares changed hands during mid-day trading, an increase of 49% from the average daily volume of 2,445,132 shares. The stock had previously closed at $20.40.

ADNT has been the subject of a number of recent analyst reports. Bank of America raised Adient from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, April 12th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Adient in a research note on Thursday, February 7th. ValuEngine lowered Adient from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Buckingham Research lowered Adient from a “neutral” rating to an “underperform” rating and increased their price target for the company from $17.00 to $20.00 in a research note on Monday, April 22nd. Finally, Longbow Research reissued a “buy” rating and set a $28.00 price target on shares of Adient in a research note on Monday, January 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.85.

The company has a market cap of $1.68 billion, a P/E ratio of 3.20 and a beta of 2.76. The company has a quick ratio of 0.77, a current ratio of 0.98 and a debt-to-equity ratio of 1.28.

Adient (NYSE:ADNT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). Adient had a negative net margin of 8.62% and a positive return on equity of 10.34%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the company posted $1.85 earnings per share. Adient’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities analysts anticipate that Adient PLC will post 1.59 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Adient by 7.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 8,744,439 shares of the company’s stock valued at $113,328,000 after purchasing an additional 613,309 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Adient by 3.4% in the 4th quarter. BlackRock Inc. now owns 8,126,262 shares of the company’s stock valued at $122,382,000 after purchasing an additional 270,833 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Adient by 526.0% in the 4th quarter. Bank of America Corp DE now owns 3,487,956 shares of the company’s stock valued at $52,529,000 after purchasing an additional 2,930,768 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its stake in shares of Adient by 45.5% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 3,212,774 shares of the company’s stock valued at $41,638,000 after purchasing an additional 1,005,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Adient by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,152,486 shares of the company’s stock valued at $32,419,000 after purchasing an additional 475,553 shares during the last quarter.

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About Adient (NYSE:ADNT)

Adient plc designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. It operates through three segments: Seating, Seat Structures and Mechanisms (SS&M), and Interiors. The Seating segment produces seat systems for automotive and other mobility applications, as well as various components of seat systems, including foams, trims, and fabrics.

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