Martingale Asset Management L P Purchases Shares of 13,534 Adient $ADNT

Key Points

• Martingale Asset Management L P has acquired a new position in Adient, purchasing 13,534 shares valued at approximately $174,000 in the first quarter.
• Adient's stock has seen various changes in analyst ratings, with a consensus currently at "Reduce" and an average target price of $21.72.
• During its last earnings announcement, Adient reported $0.45 EPS for the quarter, which was below analyst estimates, despite revenue growth to $3.74 billion.

Martingale Asset Management L P purchased a new stake in Adient (NYSE:ADNT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,534 shares of the company's stock, valued at approximately $174,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADNT. Point72 Hong Kong Ltd bought a new position in Adient during the 4th quarter worth approximately $25,000. Brooklyn Investment Group boosted its position in Adient by 23,600.0% during the first quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock valued at $27,000 after acquiring an additional 2,124 shares during the last quarter. GAMMA Investing LLC boosted its position in Adient by 157.5% during the first quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares during the last quarter. CWM LLC grew its holdings in Adient by 91.4% during the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after acquiring an additional 1,636 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Adient by 418.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,679 shares of the company's stock worth $60,000 after acquiring an additional 3,776 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ADNT. Wall Street Zen raised Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Bank of America increased their price target on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a report on Monday, June 16th. Cfra Research raised shares of Adient from a "moderate sell" rating to a "hold" rating in a research report on Thursday, August 7th. Zacks Research downgraded shares of Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Stifel Nicolaus started coverage on shares of Adient in a report on Thursday, August 21st. They issued a "buy" rating and a $27.00 price target for the company. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $21.72.

Adient Stock Down 1.0%

Shares of NYSE ADNT traded down $0.26 during midday trading on Monday, hitting $24.82. 760,033 shares of the stock traded hands, compared to its average volume of 1,209,802. 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 has a one year low of $10.04 and a one year high of $25.84. The business has a 50 day moving average price of $22.55 and a two-hundred day moving average price of $17.34. The company has a market cap of $2.02 billion, a PE ratio of -9.37, a P/E/G ratio of 0.82 and a beta of 1.76.

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 analysts' consensus estimates 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 quarter in the prior year, the business earned $0.32 earnings per share. Adient's revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts predict that Adient will post 1.76 EPS for the current 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.