Seven Eight Capital LP Takes Position in Adient plc (NYSE:ADNT)

Seven Eight Capital LP acquired a new stake in Adient plc (NYSE:ADNT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,968 shares of the company’s stock, valued at approximately $789,000.

Other hedge funds also recently made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in shares of Adient in the fourth quarter valued at approximately $83,000. Covestor Ltd lifted its position in shares of Adient by 201.5% in the first quarter. Covestor Ltd now owns 3,307 shares of the company’s stock valued at $109,000 after buying an additional 2,210 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Adient in the first quarter valued at approximately $159,000. Assenagon Asset Management S.A. bought a new position in shares of Adient during the first quarter worth approximately $223,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Adient by 18.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,991 shares of the company’s stock worth $254,000 after purchasing an additional 1,109 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BNP Paribas upgraded Adient from an “underperform” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Adient from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, May 6th. Barclays lowered their price objective on Adient from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price objective on Adient from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Bank of America decreased their price target on Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.33.

Insider Activity at Adient

In other Adient news, Director Peter Carlin sold 4,207 shares of Adient stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $28.90, for a total transaction of $121,582.30. Following the transaction, the director now directly owns 28,352 shares of the company’s stock, valued at approximately $819,372.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Adient Price Performance

Shares of NYSE ADNT traded up $0.35 during mid-day trading on Tuesday, hitting $25.48. 1,224,488 shares of the stock traded hands, compared to its average volume of 1,051,680. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 0.91. Adient plc has a twelve month low of $22.93 and a twelve month high of $46.51. The company has a market cap of $2.29 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.32 and a beta of 2.19. The firm has a 50 day simple moving average of $26.25 and a two-hundred day simple moving average of $30.32.

Adient (NYSE:ADNT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.15. Adient had a return on equity of 8.72% and a net margin of 1.04%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the business posted $0.32 EPS. Adient’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Adient plc will post 2.26 EPS for the current fiscal year.

About Adient

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.