Pacer Advisors Inc. Sells 3,672,690 Shares of Adient (NYSE:ADNT)

Key Points

• Pacer Advisors Inc. reduced its holdings in Adient (NYSE:ADNT) by 76.6% in Q1, selling over 3.6 million shares, and now owns approximately 1.34% of the company valued at $14.47 million.
• Adient's stock saw a price target increase from analysts, with Barclays and UBS Group both raising their targets to $25.00, indicating a positive outlook amidst varying ratings from other analysts.
• In the most recent earnings report, Adient posted an EPS of $0.69, surpassing estimates, but revenue decreased 3.7% year-over-year, highlighting ongoing challenges in the market.

Pacer Advisors Inc. lessened its stake in shares of Adient (NYSE:ADNT - Free Report) by 76.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,978 shares of the company's stock after selling 3,672,690 shares during the quarter. Pacer Advisors Inc. owned 1.34% of Adient worth $14,467,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Readystate Asset Management LP purchased a new position in Adient in the first quarter valued at approximately $920,000. Y Intercept Hong Kong Ltd purchased a new position in Adient in the 1st quarter valued at $1,036,000. Allianz Asset Management GmbH purchased a new position in Adient in the 1st quarter valued at $6,022,000. Pzena Investment Management LLC grew its position in Adient by 7.5% in the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock valued at $50,174,000 after buying an additional 272,121 shares during the last quarter. Finally, CWM LLC grew its position in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock valued at $44,000 after buying an additional 1,636 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Adient Trading Down 1.3%

Shares of NYSE:ADNT traded down $0.28 during midday trading on Wednesday, reaching $21.80. The company had a trading volume of 186,187 shares, compared to its average volume of 1,450,949. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.11. Adient has a 1-year low of $10.04 and a 1-year high of $26.59. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -6.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69. The company has a fifty day simple moving average of $19.42 and a two-hundred day simple moving average of $16.32.

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, beating analysts' consensus estimates of $0.36 by $0.33. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the company posted $0.54 EPS. Adient's revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts predict that Adient will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

ADNT has been the subject of a number of recent analyst reports. Bank of America raised their target price on Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a report on Monday, June 16th. UBS Group lifted their price objective on Adient from $15.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Barclays lifted their price target on Adient from $18.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on Adient from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.06.

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.