Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Adient plc (NYSE:ADNT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Adient plc (NYSE:ADNT) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,205 shares of the company’s stock after purchasing an additional 2,314 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Adient were worth $771,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Adient during the third quarter valued at approximately $46,000. AM Squared Ltd bought a new position in shares of Adient during the 3rd quarter valued at approximately $106,000. Dark Forest Capital Management LP bought a new position in shares of Adient during the 3rd quarter valued at approximately $205,000. Handelsinvest Investeringsforvaltning purchased a new position in shares of Adient in the fourth quarter valued at $207,000. Finally, Allspring Global Investments Holdings LLC increased its position in Adient by 20.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,743 shares of the company’s stock worth $211,000 after purchasing an additional 962 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $33.68, for a total value of $336,800.00. Following the completion of the sale, the executive vice president now directly owns 55,669 shares in the company, valued at $1,874,931.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ADNT. Barclays reiterated an “equal weight” rating and set a $37.00 price objective (down previously from $41.00) on shares of Adient in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of Adient from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Bank of America dropped their price target on Adient from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Adient from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.43.

Adient Stock Performance

Shares of Adient stock opened at $30.77 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average is $32.23 and its two-hundred day moving average is $33.47. Adient plc has a 52 week low of $27.73 and a 52 week high of $46.51. The company has a market capitalization of $2.81 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.32 and a beta of 2.51.

Adient (NYSE:ADNT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.16). The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. Adient had a return on equity of 7.90% and a net margin of 1.39%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, analysts expect that Adient plc will post 2.53 earnings per share for the current year.

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.