Lear (NYSE:LEA) Price Target Cut to $160.00

Lear (NYSE:LEA) had its price target decreased by analysts at JPMorgan Chase & Co. from $162.00 to $160.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 46.84% from the company’s current price.

A number of other research analysts also recently commented on LEA. Wells Fargo & Company dropped their price objective on Lear from $131.00 to $114.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Evercore ISI reduced their price objective on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Wolfe Research began coverage on shares of Lear in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley cut their price target on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.09.

Lear Stock Performance

Shares of LEA opened at $108.96 on Monday. The stock has a 50-day simple moving average of $109.84 and a 200-day simple moving average of $118.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. Lear has a 1 year low of $101.67 and a 1 year high of $147.11. The stock has a market capitalization of $6.19 billion, a PE ratio of 11.88, a PEG ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $3.33 EPS. On average, analysts predict that Lear will post 12.49 earnings per share for the current fiscal year.

Institutional Trading of Lear

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in Lear by 8.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,302 shares of the auto parts company’s stock valued at $251,000 after buying an additional 184 shares during the last quarter. Vest Financial LLC boosted its holdings in shares of Lear by 44.1% in the third quarter. Vest Financial LLC now owns 13,883 shares of the auto parts company’s stock valued at $1,515,000 after acquiring an additional 4,250 shares in the last quarter. Raymond James & Associates lifted its position in Lear by 7.7% in the third quarter. Raymond James & Associates now owns 104,679 shares of the auto parts company’s stock valued at $11,426,000 after purchasing an additional 7,483 shares during the period. Blue Trust Inc. boosted its holdings in Lear by 240.4% in the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 214 shares in the last quarter. Finally, Net Worth Advisory Group acquired a new position in Lear during the 3rd quarter worth approximately $220,000. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.