Lear (NYSE:LEA) Price Target Cut to $135.00

Lear (NYSE:LEA) had its target price reduced by stock analysts at The Goldman Sachs Group from $144.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 24.99% from the stock’s previous close.

A number of other brokerages have also commented on LEA. Morgan Stanley lowered their price objective on Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Citigroup lowered their price objective on Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Evercore ISI lowered their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Barclays lowered their target price on Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Lear has a consensus rating of “Moderate Buy” and a consensus price target of $147.91.

Lear Stock Down 1.0 %

LEA stock traded down $1.14 during mid-day trading on Tuesday, hitting $108.01. The stock had a trading volume of 293,352 shares, compared to its average volume of 645,035. 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 has a 1-year low of $101.67 and a 1-year high of $147.11. The company has a fifty day moving average of $112.52 and a 200 day moving average of $122.45. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.43 and a beta of 1.45.

Lear (NYSE:LEA) last issued 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. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.33 EPS. On average, equities analysts expect that Lear will post 12.66 EPS for the current fiscal year.

Institutional Trading of Lear

Hedge funds have recently modified their holdings of the company. Grimes & Company Inc. bought a new stake in shares of Lear in the 1st quarter worth approximately $5,847,000. Alaska Permanent Fund Corp lifted its position in shares of Lear by 307.9% during the 1st quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock worth $1,864,000 after buying an additional 9,714 shares during the period. Swedbank AB bought a new position in shares of Lear during the 1st quarter worth approximately $1,984,000. Asahi Life Asset Management CO. LTD. bought a new position in shares of Lear during the 4th quarter worth approximately $333,000. Finally, Point72 Asset Management L.P. lifted its position 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 worth $76,373,000 after buying an additional 490,324 shares during the period. Institutional investors own 97.04% of the company’s stock.

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.