Russell Investments Group Ltd. Cuts Stake in Adient $ADNT

Russell Investments Group Ltd. trimmed its position in shares of Adient (NYSE:ADNT) by 90.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,215 shares of the company’s stock after selling 61,138 shares during the quarter. Russell Investments Group Ltd.’s holdings in Adient were worth $80,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its position in Adient by 22.5% during the 1st quarter. Public Sector Pension Investment Board now owns 266,136 shares of the company’s stock valued at $3,423,000 after purchasing an additional 48,910 shares during the last quarter. Nuveen LLC purchased a new stake in Adient during the 1st quarter valued at about $3,521,000. Aigen Investment Management LP purchased a new stake in Adient during the 1st quarter valued at about $263,000. Virtu Financial LLC purchased a new stake in Adient during the 1st quarter valued at about $200,000. Finally, Entropy Technologies LP purchased a new stake in Adient during the 1st quarter valued at about $138,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADNT has been the topic of several research analyst reports. Bank of America upped their target price on shares of Adient from $15.00 to $17.50 and gave the company an “underperform” rating in a research note on Monday, June 16th. Stifel Nicolaus initiated coverage on shares of Adient in a research note on Thursday, August 21st. They set a “buy” rating and a $27.00 target price on the stock. Wall Street Zen upgraded shares of Adient from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. UBS Group upped their target price on shares of Adient from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Barclays upped their target price on shares of Adient from $18.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $21.72.

Adient Price Performance

NYSE ADNT opened at $24.24 on Thursday. Adient has a 12 month low of $10.04 and a 12 month high of $25.84. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -9.15, a PEG ratio of 0.82 and a beta of 1.76. The company’s 50 day moving average is $22.75 and its two-hundred day moving average is $17.44. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.15.

Adient (NYSE:ADNT) last released 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). Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%.The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Adient’s revenue was up .7% on a year-over-year basis. As a group, research analysts anticipate that Adient will post 1.76 earnings per share 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.