Assenagon Asset Management S.A. acquired a new position in Adient (NYSE:ADNT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 79,492 shares of the company's stock, valued at approximately $1,547,000. Assenagon Asset Management S.A. owned approximately 0.09% of Adient at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Adient by 105.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 369,035 shares of the company's stock worth $6,358,000 after buying an additional 189,574 shares during the period. Jefferies Financial Group Inc. increased its position in Adient by 44.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 13,318 shares of the company's stock valued at $229,000 after buying an additional 4,077 shares in the last quarter. GAMMA Investing LLC increased its position in Adient by 3,211.3% during the 1st quarter. GAMMA Investing LLC now owns 28,742 shares of the company's stock valued at $370,000 after buying an additional 27,874 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Adient by 69.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 355,525 shares of the company's stock valued at $4,572,000 after buying an additional 145,851 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Adient during the 1st quarter valued at approximately $601,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.
Adient Price Performance
Shares of Adient stock opened at $24.61 on Friday. The stock's 50-day simple moving average is $23.64 and its 200-day simple moving average is $18.43. Adient has a 52 week low of $10.04 and a 52 week high of $25.84. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 0.94 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15.
Adient (NYSE:ADNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the firm posted $0.32 earnings per share. The company's revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts expect that Adient will post 1.76 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on ADNT shares. Bank of America raised their price objective on Adient from $17.50 to $20.00 and gave the company an "underperform" rating in a research report on Wednesday, September 10th. Zacks Research lowered Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Wells Fargo & Company raised Adient from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $24.00 to $31.00 in a research report on Thursday. Barclays raised their price objective on Adient from $18.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus initiated coverage on Adient in a report on Thursday, August 21st. They issued a "buy" rating and a $27.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Adient presently has an average rating of "Hold" and an average target price of $22.63.
Check Out Our Latest Analysis on ADNT
About Adient
(
Free Report)
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.
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