Pzena Investment Management LLC Acquires 272,121 Shares of Adient (NYSE:ADNT)

Pzena Investment Management LLC grew its position in shares of Adient (NYSE:ADNT - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,901,573 shares of the company's stock after purchasing an additional 272,121 shares during the period. Pzena Investment Management LLC owned 4.65% of Adient worth $50,174,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADNT. Invesco Ltd. raised its holdings in Adient by 22.0% in the fourth quarter. Invesco Ltd. now owns 1,414,041 shares of the company's stock valued at $24,364,000 after buying an additional 254,951 shares during the period. Northern Trust Corp grew its position in shares of Adient by 6.8% during the fourth quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock worth $19,464,000 after buying an additional 72,077 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Adient by 13.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,091,272 shares of the company's stock worth $18,803,000 after purchasing an additional 127,826 shares during the period. Lyrical Asset Management LP lifted its stake in Adient by 0.5% in the fourth quarter. Lyrical Asset Management LP now owns 1,020,869 shares of the company's stock valued at $17,590,000 after buying an additional 4,984 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Adient by 1.1% during the fourth quarter. William Blair Investment Management LLC now owns 817,502 shares of the company's stock valued at $14,086,000 after purchasing an additional 8,645 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Adient from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen upgraded Adient from a "hold" rating to a "buy" rating in a report on Friday. Bank of America boosted their target price on Adient from $15.00 to $17.50 and gave the stock an "underperform" rating in a report on Monday, June 16th. Wells Fargo & Company boosted their price objective on Adient from $17.00 to $18.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Citigroup started coverage on Adient in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.06.

Adient Price Performance

NYSE ADNT traded down $0.30 during midday trading on Friday, hitting $21.75. The company had a trading volume of 1,125,824 shares, compared to its average volume of 1,455,057. The company has a current ratio of 1.11, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. Adient has a twelve month low of $10.04 and a twelve month high of $26.59. The company has a market capitalization of $1.83 billion, a PE ratio of -6.80, a P/E/G ratio of 0.66 and a beta of 1.69. The firm has a 50-day moving average price of $18.46 and a 200-day moving average price of $16.05.

Adient (NYSE:ADNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.33. Adient had a positive return on equity of 7.70% and a negative net margin of 1.86%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The business's revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Adient will post 1.76 earnings per share for the current fiscal year.

Adient 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.