Lear (NYSE:LEA) Hits New 1-Year Low Following Analyst Downgrade

Lear Co. (NYSE:LEA)’s share price hit a new 52-week low during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $139.00 to $132.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lear traded as low as $113.14 and last traded at $113.53, with a volume of 85786 shares traded. The stock had previously closed at $114.89.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup reduced their target price on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $150.00 to $160.00 in a report on Friday, May 10th. Barclays cut their price objective on shares of Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, UBS Group lowered their target price on shares of Lear from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Thursday, June 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.00.

Insider Buying and Selling at Lear

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

Institutional Trading of Lear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares during the period. State of Michigan Retirement System grew its holdings in Lear by 0.5% in the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after purchasing an additional 100 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Lear by 2.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock valued at $555,000 after buying an additional 100 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Lear by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after buying an additional 124 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Lear by 16.8% during the 1st quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company’s stock valued at $128,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Down 0.1 %

The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.27 and a beta of 1.51. The business’s 50 day moving average is $125.15 and its 200-day moving average is $133.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33.

Lear (NYSE:LEA) last released its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.14. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.78 earnings per share. On average, sell-side analysts predict that Lear Co. will post 14.21 EPS for the current fiscal year.

Lear Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Thursday, June 6th were given a $0.77 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.08 annualized dividend and a dividend yield of 2.71%. Lear’s dividend payout ratio (DPR) is presently 33.59%.

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.