Public Sector Pension Investment Board Grows Stake in Adient $ADNT

Key Points

• The Public Sector Pension Investment Board increased its stake in Adient by 22.5% during the first quarter, now holding 266,136 shares valued at approximately $3.42 million.
• Adient recently reported $0.45 EPS for the last quarter, missing estimates by $0.02, while achieving a revenue of $3.74 billion, slightly above expectations.
• Adient's stock price is currently down 2.3%, trading at $23.07, with a consensus rating of "Hold" and a target price of $21.06 from analysts.

Public Sector Pension Investment Board boosted its holdings in shares of Adient (NYSE:ADNT - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,136 shares of the company's stock after buying an additional 48,910 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Adient worth $3,423,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mariner LLC boosted its stake in Adient by 8.6% in the fourth quarter. Mariner LLC now owns 10,157 shares of the company's stock valued at $175,000 after acquiring an additional 801 shares in the last quarter. Covestor Ltd boosted its stake in Adient by 15.2% in the first quarter. Covestor Ltd now owns 6,984 shares of the company's stock valued at $90,000 after acquiring an additional 922 shares in the last quarter. GAMMA Investing LLC boosted its stake in Adient by 157.5% in the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Adient in the fourth quarter valued at approximately $25,000. Finally, CWM LLC boosted its stake in Adient by 91.4% in the first quarter. CWM LLC now owns 3,426 shares of the company's stock valued at $44,000 after acquiring an additional 1,636 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADNT has been the subject of several recent analyst reports. Cfra Research upgraded shares of Adient from a "moderate sell" rating to a "hold" rating in a research note on Thursday, August 7th. Stifel Nicolaus initiated coverage on shares of Adient in a research note on Thursday. They issued a "buy" rating and a $27.00 target price for the company. Wells Fargo & Company raised their target price on shares of Adient from $18.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Barclays lifted their price objective on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Zacks Research downgraded shares of Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $21.72.

Adient Stock Performance

NYSE ADNT traded up $1.2770 on Friday, reaching $24.8470. 1,204,281 shares of the company's stock traded hands, compared to its average volume of 1,227,407. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -9.38, a P/E/G ratio of 0.79 and a beta of 1.72. The stock has a 50 day moving average price of $21.82 and a 200-day moving average price of $17.01. Adient has a fifty-two week low of $10.04 and a fifty-two week high of $24.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

Adient (NYSE:ADNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company's revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts predict that Adient will post 1.76 EPS for the current fiscal 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.