UBS Group Lowers Lear (NYSE:LEA) Price Target to $128.00

Lear (NYSE:LEAGet Free Report) had its price objective reduced by research analysts at UBS Group from $136.00 to $128.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price target would suggest a potential upside of 11.80% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Barclays cut their price target on shares of Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Citigroup reduced their price target on shares of Lear from $145.00 to $141.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. StockNews.com downgraded Lear from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company lowered their price target on Lear from $139.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.63.

Get Our Latest Analysis on Lear

Lear Stock Performance

LEA traded up $0.33 on Wednesday, reaching $114.49. The stock had a trading volume of 73,438 shares, compared to its average volume of 645,823. The business’s 50-day moving average price is $122.07 and its two-hundred day moving average price is $131.78. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55. Lear has a 12-month low of $112.26 and a 12-month high of $157.90. The company has a market cap of $6.50 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.26 and a beta of 1.47.

Lear (NYSE:LEAGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the prior year, the firm posted $2.78 EPS. Lear’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Lear will post 14.21 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of Lear by 13.8% during the 4th quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock worth $174,382,000 after purchasing an additional 149,958 shares during the last quarter. Norges Bank purchased a new stake in Lear during the 4th quarter worth about $79,611,000. Grimes & Company Inc. acquired a new position in shares of Lear during the 1st quarter worth about $5,847,000. Campbell & CO Investment Adviser LLC increased its holdings in shares of Lear by 56.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock valued at $2,842,000 after acquiring an additional 7,242 shares during the last quarter. Finally, Alaska Permanent Fund Corp raised 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 acquiring an additional 9,714 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

About Lear

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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.

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