Victory Capital Management Inc. Acquires 4,861 Shares of Adient plc (NYSE:ADNT)

Victory Capital Management Inc. boosted its holdings in Adient plc (NYSE:ADNT) by 23.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,838 shares of the company’s stock after purchasing an additional 4,861 shares during the period. Victory Capital Management Inc.’s holdings in Adient were worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADNT. Versant Capital Management Inc increased its position in shares of Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock valued at $32,000 after acquiring an additional 1,857 shares during the period. R Squared Ltd purchased a new position in shares of Adient in the fourth quarter valued at about $32,000. IFP Advisors Inc increased its position in shares of Adient by 6,924.2% in the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after acquiring an additional 2,285 shares during the period. KBC Group NV increased its position in shares of Adient by 51.8% in the third quarter. KBC Group NV now owns 3,328 shares of the company’s stock valued at $75,000 after acquiring an additional 1,136 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of Adient by 110.8% in the fourth quarter. Jones Financial Companies Lllp now owns 14,543 shares of the company’s stock valued at $251,000 after acquiring an additional 7,643 shares during the period. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut shares of Adient from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $27.00 to $20.00 in a research report on Monday, December 16th. UBS Group boosted their price target on shares of Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Adient from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Bank of America cut shares of Adient from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $24.00 to $18.00 in a research report on Tuesday, March 4th. Finally, Barclays reduced their price target on shares of Adient from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.88.

Adient Price Performance

Shares of NYSE ADNT opened at $13.92 on Friday. Adient plc has a fifty-two week low of $13.34 and a fifty-two week high of $33.74. The company has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $18.73. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 695.75, a P/E/G ratio of 0.34 and a beta of 2.27. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. During the same quarter in the prior year, the company posted $0.31 EPS. Analysts expect that Adient plc will post 1.76 EPS for the current fiscal year.

Adient Company 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.