Nisa Investment Advisors LLC Reduces Stock Position in Adient plc (NYSE:ADNT)

Nisa Investment Advisors LLC reduced its holdings in shares of Adient plc (NYSE:ADNT) by 15.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,948 shares of the company’s stock after selling 1,107 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Adient were worth $147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in Adient by 44.5% during the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after buying an additional 443 shares in the last quarter. Partnership Wealth Management LLC acquired a new stake in shares of Adient during the 4th quarter valued at approximately $83,000. Covestor Ltd lifted its stake in Adient by 201.5% during the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after purchasing an additional 2,210 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Adient in the first quarter worth $135,000. Finally, Headlands Technologies LLC bought a new stake in Adient during the first quarter valued at $159,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Adient from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. Barclays decreased their target price on Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their price target on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 14th. Bank of America reduced their price objective on Adient from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Adient currently has a consensus rating of “Hold” and an average target price of $28.00.

Adient Stock Up 2.6 %

Shares of Adient stock opened at $21.80 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. Adient plc has a 1-year low of $20.18 and a 1-year high of $40.47. The business’s fifty day moving average price is $23.86 and its two-hundred day moving average price is $28.45. The company has a market capitalization of $1.96 billion, a P/E ratio of 13.37, a PEG ratio of 0.46 and a beta of 2.19.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.82 billion. Adient had a net margin of 1.04% and a return on equity of 8.72%. Adient’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. As a group, research analysts forecast that Adient plc will post 2.14 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.