Lear (NYSE:LEA) Price Target Cut to $165.00

Lear (NYSE:LEA) had its price objective lowered by research analysts at Barclays from $175.00 to $165.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto parts company’s stock. Barclays‘s price objective points to a potential upside of 30.30% from the company’s previous close.

Several other brokerages have also weighed in on LEA. UBS Group lowered their target price on shares of Lear from $146.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company increased their target price on Lear from $134.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Lear Trading Up 1.8 %

Shares of NYSE LEA traded up $2.26 during midday trading on Thursday, reaching $126.63. 399,735 shares of the stock were exchanged, compared to its average volume of 567,419. The stock has a market capitalization of $7.21 billion, a P/E ratio of 13.79, a PEG ratio of 0.31 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. The company has a 50 day simple moving average of $138.40 and a 200 day simple moving average of $135.69. Lear has a twelve month low of $117.79 and a twelve month high of $157.90.

Lear (NYSE:LEA) last issued its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the business posted $2.78 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Lear will post 14.51 earnings per share for the current year.

Insider Activity at Lear

In related news, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the transaction, the chief executive officer now owns 13,627 shares in the company, valued at $1,810,483.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the sale, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason M. Cardew sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lear

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in shares of Lear in the first quarter valued at approximately $32,000. Signaturefd LLC grew its position in Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 91 shares during the last quarter. GAMMA Investing LLC purchased a new position in Lear during the 4th quarter worth $56,000. Covestor Ltd increased its stake in Lear by 131.9% in the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Lear in the fourth quarter valued at about $75,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.