Everence Capital Management Inc. Takes Position in Adient plc (NYSE:ADNT)

Everence Capital Management Inc. bought a new stake in Adient plc (NYSE:ADNT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,650 shares of the company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of Adient by 44.5% in the 2nd 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. Covestor Ltd increased its position in Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares in the last quarter. Lazard Asset Management LLC bought a new position in Adient during the 1st quarter valued at approximately $135,000. Headlands Technologies LLC bought a new position in Adient during the 1st quarter valued at approximately $159,000. Finally, Quadrature Capital Ltd increased its position in Adient by 46.8% during the 4th quarter. Quadrature Capital Ltd now owns 8,668 shares of the company’s stock valued at $315,000 after buying an additional 2,764 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Adient from $32.00 to $21.00 and set an “underweight” rating for the company in a research report on Wednesday, August 14th. Bank of America reduced their price objective on Adient from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 price objective on shares of Adient in a research report on Tuesday, September 10th. Wells Fargo & Company reduced their target price on Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their target price on Adient from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.38.

Adient Stock Performance

ADNT stock opened at $21.64 on Wednesday. The company has a market cap of $1.94 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.35 and a beta of 2.16. Adient plc has a 1 year low of $19.40 and a 1 year high of $37.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. The stock’s fifty day moving average price is $21.87 and its 200-day moving average price is $24.97.

Adient (NYSE:ADNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Adient had a return on equity of 6.34% and a net margin of 0.50%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. On average, equities analysts forecast that Adient plc will post 1.76 earnings per share for the current year.

About Adient

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.