Martingale Asset Management L P Invests $174,000 in 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 acquired a new position in shares of Adient (NYSE:ADNT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,534 shares of the company's stock, valued at approximately $174,000.

Several other institutional investors have also made changes to their positions in the business. Capital Fund Management S.A. raised its position in Adient by 376.0% in the first quarter. Capital Fund Management S.A. now owns 222,795 shares of the company's stock worth $2,865,000 after purchasing an additional 175,987 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Adient by 47.7% during the first quarter. Hsbc Holdings PLC now owns 60,939 shares of the company's stock valued at $776,000 after purchasing an additional 19,673 shares in the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of Adient by 184.2% in the 1st quarter. HITE Hedge Asset Management LLC now owns 2,320,103 shares of the company's stock valued at $29,837,000 after purchasing an additional 1,503,817 shares during the period. Brooklyn Investment Group raised its holdings in shares of Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock worth $27,000 after buying an additional 2,124 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Adient during the 1st quarter worth approximately $1,021,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research cut Adient from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price target on shares of Adient from $16.00 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, August 12th. Finally, Stifel Nicolaus initiated coverage on shares of Adient in a research note on Thursday, August 21st. They set a "buy" rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Adient presently has an average rating of "Reduce" and a consensus price target of $21.72.

Adient Price Performance

Shares of Adient stock traded down $0.26 during midday trading on Friday, reaching $24.82. The company had a trading volume of 760,033 shares, compared to its average volume of 1,246,491. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -9.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.72. The stock has a fifty day simple moving average of $22.44 and a 200 day simple moving average of $17.29. Adient has a 1-year low of $10.04 and a 1-year high of $25.84.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.Adient's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. As a group, equities research analysts forecast that Adient will post 1.76 earnings per share 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.