Adient plc (NYSE:ADNT) Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC grew its holdings in Adient plc (NYSE:ADNT) by 30.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,535 shares of the company’s stock after purchasing an additional 25,119 shares during the quarter. Magnetar Financial LLC owned approximately 0.12% of Adient worth $2,682,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Adient during the fourth quarter worth approximately $376,000. Janney Montgomery Scott LLC purchased a new position in Adient during the fourth quarter worth approximately $499,000. Norges Bank purchased a new position in Adient during the fourth quarter worth approximately $18,040,000. UBS Group AG raised its stake in Adient by 32.3% during the fourth quarter. UBS Group AG now owns 303,287 shares of the company’s stock worth $11,028,000 after purchasing an additional 74,098 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Adient by 59.0% during the fourth quarter. Hsbc Holdings PLC now owns 92,715 shares of the company’s stock worth $3,368,000 after purchasing an additional 34,421 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADNT. JPMorgan Chase & Co. cut their target price on shares of Adient from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Wolfe Research started coverage on shares of Adient in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays dropped their price target on shares of Adient from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Adient from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Bank of America dropped their price target on shares of Adient from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.63.

Adient Trading Down 2.4 %

NYSE ADNT opened at $22.12 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. The company has a 50-day simple moving average of $22.62 and a 200-day simple moving average of $26.57. The firm has a market capitalization of $1.99 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.53 and a beta of 2.16. Adient plc has a one year low of $19.40 and a one year high of $37.36.

Adient (NYSE:ADNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.30). The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.82 billion. Adient had a net margin of 0.50% and a return on equity of 6.34%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Adient plc will post 1.77 earnings per share for the current year.

Adient Company 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.