Lear (NYSE:LEA) Price Target Cut to $132.00 by Analysts at Wells Fargo & Company

Lear (NYSE:LEA) had its target price cut by research analysts at Wells Fargo & Company from $139.00 to $132.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.09% from the stock’s current price.

Several other equities research analysts also recently weighed in on LEA. Barclays decreased their target price on shares of Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $160.00 in a research report on Friday, May 10th. Citigroup dropped their target price on shares of Lear from $145.00 to $141.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, UBS Group dropped their target price on shares of Lear from $142.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, June 13th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.00.

Lear Stock Performance

NYSE:LEA opened at $113.70 on Tuesday. The firm has a market capitalization of $6.46 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.27 and a beta of 1.51. The business’s fifty day moving average price is $125.50 and its 200 day moving average price is $133.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04. Lear has a 12 month low of $112.55 and a 12 month high of $157.90.

Lear (NYSE:LEA) last issued its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.14. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.78 earnings per share. On average, sell-side analysts anticipate that Lear will post 14.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Lear news, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total value of $296,273.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lear

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in shares of Lear by 32.3% during the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Lear by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after acquiring an additional 100 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock valued at $555,000 after acquiring an additional 100 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after buying an additional 124 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Lear by 16.8% in the 1st quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company’s stock worth $128,000 after buying an additional 127 shares in the last quarter. 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.