Thrivent Financial for Lutherans Decreases Stake in Adient plc (NYSE:ADNT)

Thrivent Financial for Lutherans cut its holdings in shares of Adient plc (NYSE:ADNT) by 5.1% during the second quarter, HoldingsChannel.com reports. The fund owned 23,065 shares of the company’s stock after selling 1,239 shares during the period. Thrivent Financial for Lutherans’ holdings in Adient were worth $570,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Adient by 44.5% in the second quarter. CWM LLC now owns 1,439 shares of the company’s stock valued at $36,000 after purchasing an additional 443 shares during the last quarter. Covestor Ltd raised its holdings in shares of Adient by 201.5% during the 1st quarter. Covestor Ltd now owns 3,307 shares of the company’s stock worth $109,000 after acquiring an additional 2,210 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Adient during the 1st quarter worth $135,000. Headlands Technologies LLC purchased a new stake in shares of Adient in the first quarter valued at about $159,000. Finally, Quadrature Capital Ltd grew its holdings in shares of Adient by 46.8% in the fourth quarter. Quadrature Capital Ltd now owns 8,668 shares of the company’s stock valued at $315,000 after purchasing an additional 2,764 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Adient Trading Down 4.0 %

Shares of NYSE ADNT opened at $21.34 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.92 billion, a PE ratio of 13.09, a PEG ratio of 0.59 and a beta of 2.16. Adient plc has a twelve month low of $19.40 and a twelve month high of $37.19. The stock has a fifty day simple moving average of $21.99 and a 200-day simple moving average of $25.70.

Adient (NYSE:ADNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). Adient had a return on equity of 6.34% and a net margin of 0.50%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, equities analysts forecast that Adient plc will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Bank of America decreased their target price on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. BNP Paribas raised Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Monday, July 1st. Morgan Stanley decreased their price target on Adient from $32.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 14th. Finally, UBS Group cut their price objective on Adient from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.63.

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.