Lear (NYSE:LEA) PT Lowered to $150.00

Lear (NYSE:LEA) had its price target cut by Barclays from $155.00 to $150.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Barclays‘s price objective would suggest a potential upside of 23.60% from the company’s current price.

A number of other equities analysts have also recently issued reports on LEA. UBS Group lowered their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America reduced their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Citigroup reduced their target price on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $160.00 in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Lear currently has a consensus rating of “Moderate Buy” and an average price target of $157.20.

Lear Stock Performance

Lear stock traded down $0.05 during midday trading on Monday, hitting $121.36. The company’s stock had a trading volume of 169,726 shares, compared to its average volume of 655,836. Lear has a 1-year low of $112.26 and a 1-year high of $157.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The company has a 50-day moving average price of $119.61 and a two-hundred day moving average price of $130.06. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.36 and a beta of 1.47.

Lear (NYSE:LEA) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.34 by $0.26. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.33 EPS. As a group, sell-side analysts predict that Lear will post 13.41 earnings per share for the current year.

Insider Activity

In related news, Director Greg C. Smith sold 2,392 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LEA. Vanguard Group Inc. grew its position in Lear by 1.9% during the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after buying an additional 109,746 shares during the period. Franklin Resources Inc. grew its position in Lear by 7.6% during the fourth quarter. Franklin Resources Inc. now owns 2,179,175 shares of the auto parts company’s stock valued at $307,721,000 after buying an additional 153,282 shares during the period. Greenhaven Associates Inc. grew its position in Lear by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after buying an additional 17,820 shares during the period. Lyrical Asset Management LP boosted its position in Lear by 55.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock worth $150,796,000 after purchasing an additional 380,771 shares during the period. Finally, Boston Partners boosted its position in Lear by 4.2% during the first quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock worth $148,216,000 after purchasing an additional 41,496 shares during the period. Institutional investors and hedge funds 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.