Pallas Capital Advisors LLC Purchases Shares of 13,895 Adient $ADNT

Key Points

• Pallas Capital Advisors LLC recently acquired 13,895 shares of Adient, valued at approximately $270,000, during the second quarter, indicating a new investment in the company.
• Adient's stock opened at $24.57 and has witnessed fluctuations with a 1-year range of $10.04 to $25.84, reflecting its market cap of $2 billion.
• The company reported $0.45 earnings per share for the last quarter, missing estimates slightly, but its revenue was up 0.7% year-over-year at $3.74 billion.

Pallas Capital Advisors LLC purchased a new stake in Adient (NYSE:ADNT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,895 shares of the company's stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in Adient by 991.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock valued at $42,000 after buying an additional 1,982 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Adient by 13,957.9% in the second quarter. Parallel Advisors LLC now owns 2,671 shares of the company's stock worth $52,000 after acquiring an additional 2,652 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Adient in the first quarter worth about $342,000. Strs Ohio bought a new position in shares of Adient in the first quarter worth about $585,000. Finally, Plato Investment Management Ltd bought a new position in shares of Adient in the first quarter worth about $67,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ADNT shares. Wall Street Zen raised shares of Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price target on shares of Adient from $18.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Barclays boosted their price target on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Cfra Research raised shares of Adient from a "moderate sell" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, UBS Group boosted their price target on shares of Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $21.75.

Adient Stock Down 0.2%

ADNT traded down $0.05 during trading hours on Monday, hitting $24.54. 1,159,695 shares of the company's stock were exchanged, compared to its average volume of 1,068,403. Adient has a 1-year low of $10.04 and a 1-year high of $25.84. The stock's 50-day moving average is $23.45 and its two-hundred day moving average is $18.20. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 11.77, 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 announced its earnings results on Wednesday, August 6th. The company reported $0.45 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 business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The business's revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts predict 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.