Allspring Global Investments Holdings LLC cut its stake in Adient plc (NYSE:ADNT – Free Report) by 95.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,781 shares of the company’s stock after selling 108,488 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Adient were worth $183,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new stake in Adient during the 1st quarter worth approximately $214,000. Bank of Montreal Can increased its stake in Adient by 45.3% during the 1st quarter. Bank of Montreal Can now owns 77,628 shares of the company’s stock worth $3,169,000 after purchasing an additional 24,213 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Adient by 11.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,731 shares of the company’s stock worth $1,416,000 after purchasing an additional 3,493 shares in the last quarter. BlackRock Inc. increased its stake in Adient by 1.6% during the 1st quarter. BlackRock Inc. now owns 10,748,066 shares of the company’s stock worth $438,197,000 after purchasing an additional 167,887 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in Adient during the 1st quarter worth approximately $2,433,000. 91.39% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on ADNT. JPMorgan Chase & Co. increased their target price on Adient from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. TheStreet raised Adient from a “c” rating to a “b” rating in a research report on Wednesday, August 2nd. StockNews.com assumed coverage on Adient in a research report on Thursday, October 5th. They set a “buy” rating for the company. Wells Fargo & Company reduced their price target on Adient from $49.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. Finally, Barclays upped their price target on Adient from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.63.
Adient Trading Down 1.2 %
NYSE ADNT opened at $31.32 on Tuesday. The company has a market cap of $2.97 billion, a PE ratio of 14.50 and a beta of 2.77. The company has a current ratio of 1.15, a quick ratio of 0.93 and a debt-to-equity ratio of 0.94. Adient plc has a 12 month low of $30.10 and a 12 month high of $47.50. The stock has a 50 day moving average of $35.80 and a 200-day moving average of $37.58.
Adient (NYSE:ADNT – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. Adient had a net margin of 1.33% and a return on equity of 8.14%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. On average, equities research analysts anticipate that Adient plc will post 3.56 EPS for the current fiscal year.
Adient plc, an investment holding company, 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.
- Five stocks we like better than Adient
- Breakout Stocks: What They Are and How to Identify Them
- Catch the dip on Sociedad Quimica before earnings?
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Can new GPT store spur generative AI monetization?
- What Are Dividend Challengers?
- Energy looks to dominate markets with 3 oil and gas stocks
Receive News & Ratings for Adient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adient and related companies with MarketBeat.com's FREE daily email newsletter.