Lear (NYSE:LEA) PT Lowered to $106.00

Lear (NYSE:LEA) had its target price lowered by equities researchers at Wells Fargo & Company from $114.00 to $106.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.98% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Wolfe Research began coverage on Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group lowered their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday. Finally, UBS Group dropped their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.36.

Lear Stock Performance

Lear stock opened at $98.17 on Friday. Lear has a fifty-two week low of $97.51 and a fifty-two week high of $147.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. The stock has a market cap of $5.57 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44. The firm’s fifty day moving average price is $109.30 and its 200-day moving average price is $118.06.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $2.87 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts expect that Lear will post 12.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Lear in the 2nd quarter worth about $26,000. Headlands Technologies LLC bought a new position in Lear in the 1st quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Blue Trust Inc. grew its holdings in Lear by 240.4% during the third 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 during the period. Finally, Signaturefd LLC increased its position in Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

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.