Lear (NYSE:LEA) Price Target Lowered to $125.00 at TD Cowen

Lear (NYSE:LEA) had its target price lowered by stock analysts at TD Cowen from $142.00 to $125.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. TD Cowen’s price target would suggest a potential upside of 26.71% from the stock’s current price.

Several other equities research analysts have also recently commented on LEA. UBS Group lowered their target price on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. 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 research note on Friday, July 12th. Wolfe Research initiated coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Morgan Stanley cut their price objective on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Lear presently has an average rating of “Moderate Buy” and an average price target of $142.75.

Lear Stock Performance

Lear stock opened at $98.65 on Friday. Lear has a 12-month low of $97.51 and a 12-month high of $147.11. The stock has a 50-day simple moving average of $109.02 and a 200 day simple moving average of $117.58. 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 capitalization of $5.60 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.50 and a beta of 1.44.

Lear (NYSE:LEA) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. Lear’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.87 earnings per share. On average, research analysts anticipate that Lear will post 12.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its holdings in shares of Lear by 11,753.3% in the second quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after acquiring an additional 1,008,200 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Lear by 15.2% during the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after buying an additional 946,109 shares during the period. Dimensional Fund Advisors LP lifted its stake in Lear by 36.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after buying an additional 504,091 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Lear by 115.4% in the second quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company’s stock valued at $64,083,000 after buying an additional 300,667 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Lear by 9.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock valued at $314,620,000 after buying an additional 238,964 shares during the period. 97.04% of the stock is currently owned by institutional investors.

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.