William Blair Investment Management LLC Sells 2,321 Shares of Adient plc (NYSE:ADNT)

William Blair Investment Management LLC decreased its position in Adient plc (NYSE:ADNT) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 833,597 shares of the company’s stock after selling 2,321 shares during the period. William Blair Investment Management LLC owned 0.93% of Adient worth $20,598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Adient by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 3,233,171 shares of the company’s stock valued at $117,558,000 after acquiring an additional 37,010 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Adient in the first quarter valued at about $2,710,000. Magnetar Financial LLC bought a new position in Adient in the first quarter valued at about $2,746,000. Duality Advisers LP bought a new position in Adient in the first quarter valued at about $1,653,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Adient by 356.7% in the second quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock valued at $2,058,000 after acquiring an additional 65,055 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Adient Trading Up 3.1 %

NYSE ADNT opened at $20.52 on Monday. The firm has a market cap of $1.79 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.53 and a beta of 2.16. 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 50-day moving average is $22.87 and its 200-day moving average is $27.09. Adient plc has a one year low of $19.40 and a one year high of $39.02.

Adient (NYSE:ADNT) last released 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 return on equity of 6.34% and a net margin of 0.50%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Sell-side analysts anticipate that Adient plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADNT. Wolfe Research started coverage on Adient in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley cut their target price on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. cut their target price on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $24.00 target price on shares of Adient in a research note on Tuesday, September 10th. Finally, UBS Group cut their target price on Adient from $27.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.25.

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.