CenterBook Partners LP Trims Stock Position in Adient (NYSE:ADNT)

CenterBook Partners LP decreased its holdings in shares of Adient (NYSE:ADNT - Free Report) by 53.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,253 shares of the company's stock after selling 46,131 shares during the period. CenterBook Partners LP's holdings in Adient were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Pzena Investment Management LLC boosted its holdings in shares of Adient by 7.5% during the first quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock worth $50,174,000 after purchasing an additional 272,121 shares during the period. Vanguard Group Inc. raised its position in Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock valued at $44,820,000 after acquiring an additional 53,101 shares in the last quarter. Invesco Ltd. lifted its stake in Adient by 22.0% in the fourth quarter. Invesco Ltd. now owns 1,414,041 shares of the company's stock valued at $24,364,000 after acquiring an additional 254,951 shares during the last quarter. Northern Trust Corp lifted its stake in Adient by 6.8% in the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock valued at $19,464,000 after acquiring an additional 72,077 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Adient by 13.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,091,272 shares of the company's stock valued at $18,803,000 after acquiring an additional 127,826 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

ADNT has been the topic of a number of research reports. Citigroup initiated coverage on shares of Adient in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $14.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Adient from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Morgan Stanley cut their target price on shares of Adient from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen raised Adient from a "hold" rating to a "buy" rating in a research note on Friday. Finally, UBS Group increased their target price on Adient from $15.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Adient presently has a consensus rating of "Hold" and an average target price of $20.06.

Adient Trading Up 2.0%

Shares of NYSE ADNT traded up $0.43 during midday trading on Monday, hitting $22.18. The company's stock had a trading volume of 397,614 shares, compared to its average volume of 1,450,932. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The business's 50 day moving average is $18.46 and its two-hundred day moving average is $16.05. Adient has a 12-month low of $10.04 and a 12-month high of $26.59. The firm has a market cap of $1.86 billion, a P/E ratio of -6.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.69.

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. 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 for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the business posted $0.54 EPS. The business's revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Adient will post 1.76 EPS for the current year.

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.