CenterBook Partners LP Sells 46,131 Shares of Adient (NYSE:ADNT)

CenterBook Partners LP trimmed its holdings in shares of Adient (NYSE:ADNT - Free Report) by 53.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,253 shares of the company's stock after selling 46,131 shares during the quarter. CenterBook Partners LP's holdings in Adient were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ADNT. Charles Schwab Investment Management Inc. increased its position in Adient by 13.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,091,272 shares of the company's stock valued at $18,803,000 after purchasing an additional 127,826 shares during the period. Victory Capital Management Inc. lifted its stake in Adient by 23.2% during the 4th quarter. Victory Capital Management Inc. now owns 25,838 shares of the company's stock valued at $445,000 after acquiring an additional 4,861 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Adient by 1.1% during the 4th quarter. William Blair Investment Management LLC now owns 817,502 shares of the company's stock valued at $14,086,000 after acquiring an additional 8,645 shares in the last quarter. Intech Investment Management LLC lifted its stake in Adient by 7.9% during the 4th quarter. Intech Investment Management LLC now owns 34,673 shares of the company's stock valued at $597,000 after acquiring an additional 2,529 shares in the last quarter. Finally, Xponance Inc. lifted its stake in Adient by 17.1% during the 4th quarter. Xponance Inc. now owns 15,992 shares of the company's stock valued at $276,000 after acquiring an additional 2,331 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Adient Stock Down 1.4%

Shares of ADNT traded down $0.30 during trading hours on Friday, hitting $21.75. The company had a trading volume of 1,125,824 shares, compared to its average volume of 1,455,057. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.80, a P/E/G ratio of 0.66 and a beta of 1.69. Adient has a 52-week low of $10.04 and a 52-week high of $26.59. The firm has a fifty day moving average price of $18.46 and a 200-day moving average price of $16.05.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.33. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The company's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that Adient will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADNT. Citigroup began coverage on Adient in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Wall Street Zen raised Adient from a "hold" rating to a "buy" rating in a report on Friday. Bank of America lifted their price target on Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a research report on Monday, June 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 research report on Tuesday, July 1st. Finally, Barclays boosted their target price on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.06.

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.