Cubist Systematic Strategies LLC Increases Position in Adient plc (NYSE:ADNT)

Cubist Systematic Strategies LLC lifted its position in shares of Adient plc (NYSE:ADNT - Free Report) by 805.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,844 shares of the company's stock after purchasing an additional 254,280 shares during the period. Cubist Systematic Strategies LLC owned 0.34% of Adient worth $4,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ADNT. JPMorgan Chase & Co. grew its position in Adient by 96.5% during the fourth quarter. JPMorgan Chase & Co. now owns 802,540 shares of the company's stock worth $13,828,000 after buying an additional 394,111 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Adient by 6.8% in the 4th quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock valued at $19,464,000 after purchasing an additional 72,077 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Adient by 28.5% in the 4th quarter. Pzena Investment Management LLC now owns 3,629,452 shares of the company's stock valued at $62,535,000 after purchasing an additional 803,961 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Adient by 263.6% in the 4th quarter. Quantbot Technologies LP now owns 80,294 shares of the company's stock valued at $1,383,000 after purchasing an additional 58,209 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Adient by 36.5% in the 3rd quarter. Principal Financial Group Inc. now owns 411,199 shares of the company's stock valued at $9,281,000 after purchasing an additional 109,850 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Analyst Ratings Changes

ADNT has been the subject of several analyst reports. UBS Group raised their target price on Adient from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Citigroup started coverage on Adient in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Morgan Stanley lowered their price objective on Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price objective on Adient from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Finally, StockNews.com raised Adient from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.00.

Adient Stock Performance

ADNT stock traded down $0.41 during midday trading on Thursday, reaching $15.47. 336,525 shares of the company's stock traded hands, compared to its average volume of 1,401,454. The company has a 50-day moving average price of $12.86 and a two-hundred day moving average price of $16.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. Adient plc has a 52 week low of $10.04 and a 52 week high of $30.19. The firm has a market capitalization of $1.30 billion, a PE ratio of 775.50, a price-to-earnings-growth ratio of 0.34 and a beta of 1.60.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.33. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.39 billion. Adient had a negative net margin of 0.01% and a positive return on equity of 6.94%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that Adient plc will post 1.76 EPS for the current 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.