Seven Eight Capital LP Boosts Stake in Adient plc (NYSE:ADNT)

Seven Eight Capital LP lifted its holdings in Adient plc (NYSE:ADNT) by 273.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,392 shares of the company’s stock after buying an additional 65,424 shares during the quarter. Seven Eight Capital LP owned 0.10% of Adient worth $2,209,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Adient by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock valued at $117,558,000 after buying an additional 37,010 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Adient during the first quarter worth $2,710,000. Magnetar Financial LLC purchased a new stake in Adient during the first quarter worth $2,746,000. Duality Advisers LP purchased a new stake in Adient during the first quarter worth $1,653,000. Finally, Harbor Capital Advisors Inc. boosted its position in Adient by 356.7% during the second quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock worth $2,058,000 after purchasing an additional 65,055 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADNT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 target price on shares of Adient in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on Adient in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Bank of America decreased their target price on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.25.

Adient Stock Up 0.1 %

Shares of NYSE:ADNT opened at $21.69 on Thursday. The company has a market capitalization of $1.95 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.53 and a beta of 2.16. The stock’s fifty day simple moving average is $22.73 and its 200-day simple moving average is $26.88. Adient plc has a 52-week low of $19.40 and a 52-week high of $38.63. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 1.08.

Adient (NYSE:ADNT) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.30). The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts forecast that Adient plc will post 1.77 earnings per share for the current fiscal year.

Adient 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.