Adient plc (NYSE:ADNT) Stake Increased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Adient plc (NYSE:ADNT) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,977 shares of the company’s stock after purchasing an additional 1,633 shares during the period. Victory Capital Management Inc.’s holdings in Adient were worth $473,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE increased its stake in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after acquiring an additional 1,588 shares during the last quarter. Signaturefd LLC increased its stake in shares of Adient by 493.8% in the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after acquiring an additional 1,822 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Adient in the first quarter worth $135,000. Finally, Covestor Ltd increased its stake in shares of Adient by 23.2% in the third quarter. Covestor Ltd now owns 5,482 shares of the company’s stock worth $124,000 after acquiring an additional 1,032 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley dropped their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price target on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. UBS Group dropped their price target on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America downgraded shares of Adient from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $24.00 in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.38.

Adient Stock Down 0.2 %

NYSE ADNT opened at $19.23 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.90 and a current ratio of 1.11. The firm has a 50-day simple moving average of $20.95 and a 200 day simple moving average of $23.22. Adient plc has a twelve month low of $18.53 and a twelve month high of $37.19. The stock has a market cap of $1.63 billion, a PE ratio of 83.61, a PEG ratio of 0.32 and a beta of 2.18.

Adient (NYSE:ADNT) last released its earnings results on Friday, November 8th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts forecast that Adient plc will post 2.04 EPS for the current 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.