Victory Capital Management Inc. Acquires 1,633 Shares of Adient plc (NYSE:ADNT)

Victory Capital Management Inc. raised its position in shares of Adient plc (NYSE:ADNT) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,977 shares of the company’s stock after acquiring an additional 1,633 shares during the period. Victory Capital Management Inc.’s holdings in Adient were worth $473,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its holdings in shares of Adient by 356.7% during the second quarter. Harbor Capital Advisors Inc. now owns 83,293 shares of the company’s stock worth $2,058,000 after buying an additional 65,055 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Adient by 85.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 152,940 shares of the company’s stock valued at $3,779,000 after purchasing an additional 70,611 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in shares of Adient by 125.3% in the second quarter. HITE Hedge Asset Management LLC now owns 512,703 shares of the company’s stock valued at $12,669,000 after purchasing an additional 285,104 shares in the last quarter. Bordeaux Wealth Advisors LLC acquired a new stake in shares of Adient in the second quarter valued at approximately $895,000. Finally, Magnetar Financial LLC increased its holdings in shares of Adient by 30.1% in the second quarter. Magnetar Financial LLC now owns 108,535 shares of the company’s stock valued at $2,682,000 after purchasing an additional 25,119 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Adient Trading Down 0.2 %

ADNT opened at $19.23 on Friday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 83.61, a P/E/G ratio of 0.32 and a beta of 2.18. Adient plc has a 12 month low of $18.53 and a 12 month high of $37.19. The firm’s fifty day simple moving average is $20.95 and its 200 day simple moving average is $23.22. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98.

Adient (NYSE:ADNT) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.56 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Adient had a net margin of 0.12% and a return on equity of 6.86%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. As a group, research analysts anticipate that Adient plc will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on ADNT shares. Wolfe Research started coverage on shares of Adient in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays lowered their price target on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. UBS Group lowered their target price on shares of Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company lowered their target price on shares of Adient from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, StockNews.com raised shares of Adient from a “hold” rating to a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.38.

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.