Cubist Systematic Strategies LLC Purchases 268,156 Shares of Adient $ADNT

Key Points

• Cubist Systematic Strategies LLC increased its stake in Adient by 93.8%, acquiring 268,156 shares to bring their total ownership to approximately $7.12 million.
• Adient's recent earnings report showed an EPS of $0.45, missing estimates of $0.47, while its revenue increased 0.7% year-over-year to $3.74 billion.
• Several analysts have revised their price targets for Adient, with Barclays raising it from $18 to $25 and Stifel Nicolaus initiating coverage with a buy rating and a $27 target price.

Cubist Systematic Strategies LLC raised its stake in shares of Adient (NYSE:ADNT - Free Report) by 93.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 554,000 shares of the company's stock after purchasing an additional 268,156 shares during the period. Cubist Systematic Strategies LLC owned 0.66% of Adient worth $7,124,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vident Advisory LLC grew its holdings in Adient by 13.7% during the first quarter. Vident Advisory LLC now owns 30,536 shares of the company's stock valued at $393,000 after purchasing an additional 3,685 shares during the period. Ieq Capital LLC bought a new position in shares of Adient in the first quarter worth about $263,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of Adient by 438.7% in the first quarter. Campbell & CO Investment Adviser LLC now owns 129,505 shares of the company's stock worth $1,665,000 after acquiring an additional 105,463 shares during the period. Jump Financial LLC boosted its stake in shares of Adient by 38.1% in the first quarter. Jump Financial LLC now owns 226,173 shares of the company's stock worth $2,909,000 after acquiring an additional 62,444 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of 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 acquiring an additional 823,638 shares during the period. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADNT shares. Morgan Stanley upped their price objective on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Bank of America upped their price objective on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a research note on Monday, June 16th. 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, July 16th. Wells Fargo & Company boosted their target price on Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, UBS Group boosted their target price on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $21.72.

Adient Trading Down 0.5%

ADNT stock traded down $0.13 during midday trading on Monday, reaching $24.45. 114,989 shares of the company traded hands, compared to its average volume of 1,411,263. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -9.21, a P/E/G ratio of 0.81 and a beta of 1.76. The business has a 50 day moving average of $22.94 and a 200-day moving average of $17.54. Adient has a 52-week low of $10.04 and a 52-week high of $25.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12.

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

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.