CenterBook Partners LP Increases Holdings in Adient plc (NYSE:ADNT)

CenterBook Partners LP grew its holdings in shares of Adient plc (NYSE:ADNT - Free Report) by 74.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,384 shares of the company's stock after acquiring an additional 36,807 shares during the period. CenterBook Partners LP owned about 0.10% of Adient worth $1,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADNT. R Squared Ltd bought a new stake in shares of Adient in the 4th quarter valued at about $32,000. Versant Capital Management Inc lifted its position in shares of Adient by 10,316.7% in the 4th quarter. Versant Capital Management Inc now owns 1,875 shares of the company's stock worth $32,000 after purchasing an additional 1,857 shares during the period. IFP Advisors Inc boosted its stake in shares of Adient by 6,924.2% in the 4th quarter. IFP Advisors Inc now owns 2,318 shares of the company's stock valued at $40,000 after purchasing an additional 2,285 shares during the last quarter. Oarsman Capital Inc. increased its position in shares of Adient by 98.7% during the fourth quarter. Oarsman Capital Inc. now owns 2,966 shares of the company's stock worth $51,000 after buying an additional 1,473 shares during the period. Finally, KBC Group NV lifted its holdings in Adient by 62.3% in the fourth quarter. KBC Group NV now owns 5,402 shares of the company's stock valued at $93,000 after buying an additional 2,074 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

ADNT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Adient from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, January 27th. UBS Group cut their target price on shares of Adient from $20.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. StockNews.com raised Adient from a "hold" rating to a "buy" rating in a research report on Tuesday, April 1st. Bank of America downgraded shares of Adient from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $24.00 to $18.00 in a research report on Tuesday, March 4th. Finally, Barclays decreased their price objective on Adient from $21.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.00.

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Adient Stock Performance

ADNT traded down $0.11 during trading on Tuesday, hitting $10.86. 1,597,338 shares of the company traded hands, compared to its average volume of 1,626,076. Adient plc has a one year low of $10.04 and a one year high of $31.19. The stock's fifty day moving average is $14.44 and its 200 day moving average is $17.54. The firm has a market cap of $911.09 million, a P/E ratio of 542.75, a price-to-earnings-growth ratio of 0.34 and a beta of 1.97. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.11.

Adient (NYSE:ADNT - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts predict that Adient plc will post 1.76 EPS for the current fiscal 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.