Adient plc (NYSE:ADNT) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC boosted its position in shares of Adient plc (NYSE:ADNT - Free Report) by 122.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 816,286 shares of the company's stock after acquiring an additional 449,272 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.97% of Adient worth $14,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Adient by 10.6% in the fourth quarter. Covestor Ltd now owns 6,062 shares of the company's stock worth $104,000 after purchasing an additional 580 shares during the last quarter. Mariner LLC increased its holdings in Adient by 8.6% in the 4th quarter. Mariner LLC now owns 10,157 shares of the company's stock worth $175,000 after buying an additional 801 shares during the period. Oarsman Capital Inc. raised its position in Adient by 98.7% during the 4th 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 last quarter. R Squared Ltd acquired a new stake in Adient during the 4th quarter valued at approximately $32,000. Finally, Versant Capital Management Inc boosted its holdings 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 valued at $32,000 after acquiring an additional 1,857 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays cut shares of Adient from an "equal weight" rating to a "negative" rating in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on Adient from $19.00 to $17.00 and set an "underweight" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on Adient from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Citigroup assumed coverage on shares of Adient in a research note on Wednesday. They set a "neutral" rating and a $14.00 price objective on the stock. Finally, UBS Group lowered their price target on shares of Adient from $20.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, Adient presently has a consensus rating of "Hold" and a consensus target price of $18.44.

Adient Price Performance

ADNT stock traded up $0.42 during trading on Wednesday, hitting $12.43. The stock had a trading volume of 412,539 shares, compared to its average volume of 1,395,699. Adient plc has a twelve month low of $10.04 and a twelve month high of $31.19. The company's 50-day moving average price is $13.77 and its two-hundred day moving average price is $17.12. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.08 and a quick ratio of 0.86. The stock has a market capitalization of $1.04 billion, a P/E ratio of 621.50, a PEG ratio of 0.34 and a beta of 1.97.

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

About Adient

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.