Bank of America Lowers Lear (NYSE:LEA) Price Target to $170.00

Lear (NYSE:LEA) had its price target dropped by stock analysts at Bank of America from $180.00 to $170.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. Bank of America‘s target price would indicate a potential upside of 62.60% from the stock’s previous close.

LEA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Barclays reduced their price objective on Lear from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. The Goldman Sachs Group lowered their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lowered their price objective on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.64.

Lear Price Performance

LEA stock opened at $104.55 on Monday. The business has a 50 day moving average price of $110.03 and a 200 day moving average price of $119.58. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.44 and a beta of 1.44. Lear has a fifty-two week low of $101.67 and a fifty-two week high of $147.11.

Lear (NYSE:LEA) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the business posted $3.33 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Lear will post 12.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lear

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEA. Altshuler Shaham Ltd purchased a new stake in shares of Lear during the 2nd quarter worth $26,000. Headlands Technologies LLC purchased a new position in Lear in the first quarter valued at about $29,000. Riverview Trust Co purchased a new position in 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 valued at $32,000 after acquiring an additional 110 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Lear during the 1st quarter worth approximately $62,000. 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.