Wells Fargo & Company Trims Lear (NYSE:LEA) Target Price to $114.00

Lear (NYSE:LEA) had its price target cut by investment analysts at Wells Fargo & Company from $131.00 to $114.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 5.51% from the company’s current price.

Several other research firms also recently issued reports on LEA. UBS Group dropped their price objective on Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $132.00 target price on shares of Lear in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Barclays lowered their target price on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.70.

Lear Price Performance

LEA stock traded down $1.97 during trading on Friday, hitting $108.05. The stock had a trading volume of 110,850 shares, compared to its average volume of 636,547. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.45. 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 company’s 50 day moving average price is $114.28 and its two-hundred day moving average price is $124.32. Lear has a 1-year low of $101.67 and a 1-year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.26. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $3.33 earnings per share. On average, sell-side analysts forecast that Lear will post 12.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LEA. Altshuler Shaham Ltd acquired a new position in shares of Lear during the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in Lear during the 1st quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Lear in the first quarter valued at about $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Lear during the 1st quarter valued at approximately $62,000. 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.