Adient (NYSE:ADNT) Trading Down 10.3%

Adient PLC (NYSE:ADNT)’s stock price was down 10.3% on Thursday . The stock traded as low as $21.30 and last traded at $21.31, approximately 2,020,583 shares were traded during trading. A decline of 8% from the average daily volume of 2,199,166 shares. The stock had previously closed at $23.75.

Several analysts recently weighed in on ADNT shares. Buckingham Research set a $19.00 price target on Adient and gave the stock a “sell” rating in a report on Wednesday, May 8th. Longbow Research cut Adient from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. Credit Suisse Group assumed coverage on Adient in a report on Wednesday, June 26th. They set a “neutral” rating and a $24.00 price target for the company. UBS Group lifted their price objective on Adient to $32.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price objective on Adient to $20.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.66.

The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.77. The company has a market capitalization of $2.22 billion, a PE ratio of 3.55 and a beta of 3.19. The business’s fifty day simple moving average is $22.55.

Adient (NYSE:ADNT) last posted 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 positive return on equity of 10.34% and a negative net margin of 8.62%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm posted $1.85 EPS. Adient’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Adient PLC will post 1.35 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in Adient by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,186 shares of the company’s stock worth $854,000 after acquiring an additional 497 shares during the last quarter. Retirement Systems of Alabama grew its position in Adient by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 113,231 shares of the company’s stock worth $1,467,000 after acquiring an additional 614 shares during the last quarter. Arizona State Retirement System grew its position in Adient by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 63,132 shares of the company’s stock worth $1,532,000 after acquiring an additional 672 shares during the last quarter. Moon Capital Management LLC grew its position in Adient by 1.1% during the 1st quarter. Moon Capital Management LLC now owns 63,468 shares of the company’s stock worth $823,000 after acquiring an additional 700 shares during the last quarter. Finally, CWM LLC grew its position in Adient by 231.2% during the 2nd quarter. CWM LLC now owns 1,020 shares of the company’s stock worth $25,000 after acquiring an additional 712 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

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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