Readystate Asset Management LP Purchases New Position in Adient (NYSE:ADNT)

Readystate Asset Management LP bought a new position in shares of Adient (NYSE:ADNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 71,577 shares of the company's stock, valued at approximately $920,000. Readystate Asset Management LP owned about 0.09% of Adient as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ADNT. Pzena Investment Management LLC grew its position in shares of Adient by 7.5% during the 1st quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock valued at $50,174,000 after acquiring an additional 272,121 shares during the period. Invesco Ltd. raised its position in shares of Adient by 22.0% during the 4th 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 in the last quarter. Northern Trust Corp raised its position in shares of Adient by 6.8% during the 4th quarter. Northern Trust Corp now owns 1,129,645 shares of the company's stock valued at $19,464,000 after buying an additional 72,077 shares in the last quarter. Lyrical Asset Management LP raised its position in Adient by 0.5% in the 4th quarter. Lyrical Asset Management LP now owns 1,020,869 shares of the company's stock worth $17,590,000 after purchasing an additional 4,984 shares during the period. Finally, HITE Hedge Asset Management LLC increased its holdings in shares of Adient by 122.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company's stock worth $14,065,000 after buying an additional 449,272 shares during the period. Institutional investors own 92.44% of the company's stock.

Adient Trading Down 1.7%

Shares of ADNT stock traded down $0.38 on Thursday, hitting $22.74. 1,122,724 shares of the stock traded hands, compared to its average volume of 1,087,527. The firm's 50-day moving average price is $18.86 and its two-hundred day moving average price is $16.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.11. The stock has a market capitalization of $1.91 billion, a PE ratio of -7.11, a PEG ratio of 0.70 and a beta of 1.69. Adient has a twelve month low of $10.04 and a twelve month high of $26.59.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADNT. Barclays raised their price target on shares of Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America lifted their price target on shares of Adient from $15.00 to $17.50 and gave the company an "underperform" rating in a research report on Monday, June 16th. Wells Fargo & Company lifted their target price on shares of Adient from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. UBS Group lifted their target price on shares of Adient from $15.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Citigroup started coverage on shares of Adient in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $20.06.

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.