Ieq Capital LLC Purchases New Position in Adient $ADNT

Key Points

• Ieq Capital LLC has acquired a new position in Adient, purchasing 20,462 shares valued at approximately $263,000 during the first quarter.
• Adient reported a loss of $0.02 per share in its latest earnings results, missing analysts' estimates, despite revenue growth of 0.7% year-over-year.
• Institutional investors and hedge funds collectively own 92.44% of Adient's stock, indicating strong institutional interest in the company.

Ieq Capital LLC purchased a new position in Adient (NYSE:ADNT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,462 shares of the company's stock, valued at approximately $263,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC grew its position in Adient by 22.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 4,500,736 shares of the company's stock worth $57,879,000 after buying an additional 823,638 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Adient by 7.5% during the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock worth $50,174,000 after buying an additional 272,121 shares during the period. Vanguard Group Inc. raised its holdings in Adient by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock worth $44,820,000 after buying an additional 53,101 shares during the period. HITE Hedge Asset Management LLC raised its holdings in Adient by 184.2% during the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock worth $29,837,000 after buying an additional 1,503,817 shares during the period. Finally, Invesco Ltd. raised its holdings in Adient by 14.2% during the 1st quarter. Invesco Ltd. now owns 1,615,317 shares of the company's stock worth $20,773,000 after buying an additional 201,276 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Stock Down 2.6%

NYSE:ADNT traded down $0.65 on Friday, hitting $24.00. 703,416 shares of the company's stock traded hands, compared to its average volume of 989,971. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15. Adient has a 1 year low of $10.04 and a 1 year high of $25.84. The firm has a 50-day moving average price of $23.21 and a 200-day moving average price of $17.78. The company has a market cap of $1.95 billion, a PE ratio of -9.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.76.

Adient (NYSE:ADNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The business had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.56 billion. During the same period last year, the firm earned $0.32 EPS. The company's revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that Adient will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

ADNT has been the topic of several recent analyst reports. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Stifel Nicolaus initiated coverage on Adient in a report on Thursday, August 21st. They set a "buy" rating and a $27.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Cfra Research upgraded Adient from a "moderate sell" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Barclays boosted their price objective on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $21.75.

Adient 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.