Morgan Stanley Trims Lear (NYSE:LEA) Target Price to $145.00

Lear (NYSE:LEA) had its target price dropped by research analysts at Morgan Stanley from $150.00 to $145.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s target price indicates a potential upside of 33.51% from the stock’s current price.

A number of other analysts have also recently commented on LEA. Barclays dropped their price target on Lear from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company decreased their price objective on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Bank of America cut their price objective on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Citigroup cut their price objective on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.20.

Lear Trading Down 1.2 %

Shares of NYSE LEA traded down $1.32 during trading hours on Wednesday, hitting $108.61. The company’s stock had a trading volume of 83,997 shares, compared to its average volume of 642,070. 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 stock has a market cap of $6.11 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.43 and a beta of 1.45. Lear has a 12 month low of $101.67 and a 12 month high of $147.11. The business has a 50-day simple moving average of $113.43 and a 200-day simple moving average of $123.34.

Lear (NYSE:LEA) last posted its earnings results 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 company 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%. Lear’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $3.33 earnings per share. On average, analysts anticipate that Lear will post 12.66 earnings per share for the current fiscal year.

Institutional Trading of Lear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEA. Pzena Investment Management LLC increased its position in shares of Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after acquiring an additional 946,109 shares during the period. Vanguard Group Inc. boosted its stake in Lear by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after acquiring an additional 109,746 shares in the last quarter. Diamond Hill Capital Management Inc. raised 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 worth $314,620,000 after buying an additional 238,964 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $213,726,000 after buying an additional 504,091 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its position in Lear by 1.0% during the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after purchasing an additional 17,820 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.