Wealth Enhancement Advisory Services LLC Takes $661,000 Position in Adient $ADNT

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new stake in Adient, investing approximately $661,000 for 33,985 shares during the second quarter.
• Adient's recent earnings report showed a miss in EPS estimates at $0.45 compared to the expected $0.47, despite a revenue increase to $3.74 billion.
• The institutional ownership in Adient is notably high, with hedge funds and institutional investors holding 92.44% of the company's stock.

Wealth Enhancement Advisory Services LLC bought a new stake in Adient (NYSE:ADNT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,985 shares of the company's stock, valued at approximately $661,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC increased its holdings in Adient by 38.1% in the first quarter. Jump Financial LLC now owns 226,173 shares of the company's stock worth $2,909,000 after buying an additional 62,444 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Adient during the first quarter valued at approximately $1,036,000. Vanguard Group Inc. grew its holdings in Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock valued at $44,820,000 after purchasing an additional 53,101 shares during the last quarter. Entropy Technologies LP acquired a new position in Adient during the first quarter valued at approximately $138,000. Finally, SG Americas Securities LLC acquired a new position in Adient during the first quarter valued at approximately $601,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Adient Stock Performance

Shares of NYSE:ADNT opened at $25.92 on Friday. Adient has a twelve month low of $10.04 and a twelve month high of $26.16. The firm has a market cap of $2.11 billion, a PE ratio of -9.78, a price-to-earnings-growth ratio of 0.83 and a beta of 1.77. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.92 and a current ratio of 1.12. The business has a fifty day moving average of $23.85 and a 200-day moving average of $18.80.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cfra Research upgraded Adient from a "moderate sell" rating to a "hold" rating in a report on Thursday, August 7th. Barclays raised their target price on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. UBS Group raised their target price on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley raised their target price on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Adient in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $22.63.

About Adient

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.

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