Adient (NYSE:ADNT) Shares Acquired by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC increased its stake in Adient by an astonishing 4,965.0% in Q1, now holding 112,291 shares worth approximately $1.44 million.
• Adient reported an EPS of $0.45 for the last quarter, which was below analysts' expectations of $0.47, despite a revenue increase of 7% year-over-year to $3.74 billion.
• Analyst ratings for Adient show a consensus of “Hold” with a price target averaging $20.94, amid varying ratings from different research firms.

Wolverine Asset Management LLC boosted its position in shares of Adient (NYSE:ADNT - Free Report) by 4,965.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,291 shares of the company's stock after buying an additional 110,074 shares during the quarter. Wolverine Asset Management LLC owned 0.13% of Adient worth $1,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pzena Investment Management LLC boosted its stake in Adient by 7.5% during the first quarter. Pzena Investment Management LLC now owns 3,901,573 shares of the company's stock worth $50,174,000 after buying an additional 272,121 shares during the period. Vanguard Group Inc. boosted its stake in Adient by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,485,241 shares of the company's stock worth $44,820,000 after buying an additional 53,101 shares during the period. Invesco Ltd. boosted its stake in Adient by 22.0% during the fourth quarter. Invesco Ltd. now owns 1,414,041 shares of the company's stock worth $24,364,000 after buying an additional 254,951 shares during the period. Northern Trust Corp boosted its stake in 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 during the period. Finally, HITE Hedge Asset Management LLC boosted its stake in shares of Adient by 122.4% during the fourth quarter. HITE Hedge Asset Management LLC now owns 816,286 shares of the company's stock valued at $14,065,000 after purchasing an additional 449,272 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADNT. Cfra Research raised shares of Adient from a "moderate sell" rating to a "hold" rating in a research note on Thursday, August 7th. Barclays upped their price objective 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. 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 upped their price objective 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. Finally, Morgan Stanley upped their price objective on shares of Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Adient currently has a consensus rating of "Hold" and a consensus target price of $21.06.

Adient Stock Up 0.3%

Adient stock traded up $0.08 during trading hours on Thursday, reaching $24.10. The stock had a trading volume of 131,850 shares, compared to its average volume of 1,449,501. Adient has a 52 week low of $10.04 and a 52 week high of $24.25. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -9.07, a PEG ratio of 0.80 and a beta of 1.72. The business's 50 day moving average price is $20.95 and its 200-day moving average price is $16.71.

Adient (NYSE:ADNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. Adient's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Sell-side analysts anticipate that Adient will post 1.76 EPS for the current 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.