Aequim Alternative Investments LP Takes Position in Adient $ADNT

Aequim Alternative Investments LP bought a new position in shares of Adient (NYSE:ADNT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $1,362,000. Aequim Alternative Investments LP owned approximately 0.08% of Adient at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADNT. GAMMA Investing LLC lifted its stake in Adient by 157.5% during the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company’s stock worth $29,000 after acquiring an additional 1,367 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Adient by 7.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 49,713 shares of the company’s stock worth $639,000 after acquiring an additional 3,657 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Adient in the 1st quarter valued at about $160,000. New York State Common Retirement Fund raised its position in Adient by 208.9% in the 1st quarter. New York State Common Retirement Fund now owns 81,471 shares of the company’s stock valued at $1,048,000 after purchasing an additional 55,100 shares in the last quarter. Finally, CWM LLC raised its position in Adient by 91.4% in the 1st quarter. CWM LLC now owns 3,426 shares of the company’s stock valued at $44,000 after purchasing an additional 1,636 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADNT. JPMorgan Chase & Co. increased their price target on Adient from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Adient in a research report on Friday. Wells Fargo & Company upgraded Adient from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $24.00 to $31.00 in a report on Thursday, September 25th. Stifel Nicolaus increased their price objective on Adient from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Bank of America increased their price objective on Adient from $17.50 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $24.00.

Adient Trading Up 1.4%

NYSE:ADNT opened at $24.08 on Monday. The stock’s 50 day moving average price is $24.17 and its 200 day moving average price is $20.01. The company has a market capitalization of $1.96 billion, a PE ratio of -9.09, a P/E/G ratio of 0.82 and a beta of 1.77. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. Adient has a 52-week low of $10.04 and a 52-week high of $26.16.

Adient (NYSE:ADNT) last released its quarterly earnings results on Wednesday, May 31st. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $3.51 billion for the quarter. Adient had a positive return on equity of 8.25% and a negative net margin of 1.53%. On average, research analysts anticipate that Adient will post 1.76 EPS 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.