Lear (NYSE:LEA) Price Target Cut to $145.00

Lear (NYSE:LEA) had its price target dropped by equities researchers at Morgan Stanley from $150.00 to $145.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s target price would suggest a potential upside of 31.10% from the company’s current price.

A number of other research firms also recently commented on LEA. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Bank of America dropped their price objective on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group dropped their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Citigroup dropped their target price on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company dropped their target price on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.20.

Lear Trading Up 3.3 %

Shares of LEA stock opened at $110.60 on Wednesday. The firm has a 50-day moving average price of $112.84 and a 200 day moving average price of $123.14. Lear has a twelve month low of $101.67 and a twelve month high of $147.11. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.43 and a beta of 1.45. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company posted $3.33 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts forecast that Lear will post 12.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lear

A number of institutional investors and hedge funds have recently bought and sold shares of LEA. Pacer Advisors Inc. boosted its holdings in Lear by 11,753.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after acquiring an additional 1,008,200 shares during the period. Pzena Investment Management LLC boosted its holdings in Lear by 15.2% in the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after acquiring an additional 504,091 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Lear by 970.4% during the 4th quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock valued at $76,373,000 after buying an additional 490,324 shares during the last quarter. Finally, Lyrical Asset Management LP boosted its stake in shares of Lear by 55.4% during the 4th quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock valued at $150,796,000 after buying an additional 380,771 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

About Lear

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.