Lear (NYSE:LEA) Price Target Cut to $155.00

Lear (NYSE:LEA) had its price target decreased by Barclays from $165.00 to $155.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Barclays‘s target price points to a potential upside of 27.47% from the stock’s current price.

A number of other analysts have also weighed in on the company. UBS Group lowered their target price on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Evercore ISI decreased their price target on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday. Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $160.00 in a research report on Friday, May 10th. Citigroup decreased their target price on shares of Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.22.

Lear Trading Up 2.4 %

LEA traded up $2.89 during trading on Tuesday, hitting $121.60. 86,646 shares of the stock were exchanged, compared to its average volume of 645,171. Lear has a 1 year low of $112.26 and a 1 year high of $157.90. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.28 and a beta of 1.47. The firm has a 50 day simple moving average of $121.36 and a 200 day simple moving average of $131.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33.

Lear (NYSE:LEA) last announced its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the firm posted $2.78 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Lear will post 14.21 EPS for the current year.

Insider Activity

In related news, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Greg C. Smith sold 2,392 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Several large investors have recently made changes to their positions in LEA. Norges Bank acquired a new position in Lear during the fourth quarter worth $79,611,000. Grimes & Company Inc. purchased a new stake in Lear during the first quarter worth about $5,847,000. Campbell & CO Investment Adviser LLC lifted its position in shares of Lear by 56.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 20,129 shares of the auto parts company’s stock worth $2,842,000 after purchasing an additional 7,242 shares in the last quarter. Alaska Permanent Fund Corp boosted its stake in shares of Lear by 307.9% in the first quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock valued at $1,864,000 after purchasing an additional 9,714 shares during the period. Finally, ARGA Investment Management LP grew its holdings in shares of Lear by 83.9% in the fourth quarter. ARGA Investment Management LP now owns 107,582 shares of the auto parts company’s stock valued at $15,192,000 after purchasing an additional 49,070 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.