Readystate Asset Management LP Purchases Shares of 71,577 Adient (NYSE:ADNT)

Readystate Asset Management LP bought a new stake in shares of Adient (NYSE:ADNT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 71,577 shares of the company's stock, valued at approximately $920,000. Readystate Asset Management LP owned approximately 0.09% of Adient at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Covestor Ltd lifted its holdings in shares of Adient by 10.6% during the 4th quarter. Covestor Ltd now owns 6,062 shares of the company's stock valued at $104,000 after acquiring an additional 580 shares in the last quarter. Mariner LLC lifted its holdings in Adient by 8.6% in the 4th quarter. Mariner LLC now owns 10,157 shares of the company's stock worth $175,000 after buying an additional 801 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock worth $29,000 after buying an additional 1,367 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Adient in the 4th quarter worth $25,000. Finally, Oarsman Capital Inc. lifted its holdings in Adient by 98.7% in the 4th quarter. Oarsman Capital Inc. now owns 2,966 shares of the company's stock worth $51,000 after buying an additional 1,473 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Price Performance

Shares of Adient stock traded down $0.02 during trading on Friday, hitting $22.71. 992,383 shares of the company's stock traded hands, compared to its average volume of 1,110,200. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.90. The firm's fifty day moving average price is $19.15 and its 200 day moving average price is $16.24. Adient has a twelve month low of $10.04 and a twelve month high of $26.59. The company has a market cap of $1.91 billion, a PE ratio of -7.10, a PEG ratio of 0.69 and a beta of 1.69.

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

Analyst Ratings Changes

Several research firms recently weighed in on ADNT. Wall Street Zen upgraded shares of Adient from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup began coverage on shares of Adient in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $14.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Adient from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. UBS Group increased their price objective on shares of Adient from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Morgan Stanley cut their target price on shares of Adient from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average 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.