Public Sector Pension Investment Board Buys New Position in Adient plc (NYSE:ADNT)

Public Sector Pension Investment Board acquired a new position in Adient plc (NYSE:ADNT) in the third quarter, Holdings Channel reports. The fund acquired 185,000 shares of the company’s stock, valued at approximately $4,175,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC raised its position 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 during the period. US Bancorp DE raised its position in Adient by 583.8% during the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock valued at $42,000 after purchasing an additional 1,588 shares in the last quarter. Signaturefd LLC lifted its stake in Adient by 493.8% during the third quarter. Signaturefd LLC now owns 2,191 shares of the company’s stock worth $49,000 after purchasing an additional 1,822 shares during the last quarter. KBC Group NV boosted its holdings in shares of Adient by 51.8% in the 3rd quarter. KBC Group NV now owns 3,328 shares of the company’s stock worth $75,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Adient by 23.2% during the 3rd quarter. Covestor Ltd now owns 5,482 shares of the company’s stock valued at $124,000 after purchasing an additional 1,032 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Adient Stock Performance

Adient stock opened at $20.28 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.72 billion, a P/E ratio of 88.17, a P/E/G ratio of 0.32 and a beta of 2.18. Adient plc has a 1-year low of $18.53 and a 1-year high of $37.19. The firm has a 50-day moving average of $20.91 and a 200-day moving average of $23.06.

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

Analysts Set New Price Targets

ADNT has been the subject of a number of recent research reports. Barclays dropped their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group decreased their target price on shares of Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley cut their price target on shares of Adient from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $24.00 price objective on shares of Adient in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.38.

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.