Lear (NYSE:LEA) PT Lowered to $143.00

Lear (NYSE:LEA) had its price target lowered by equities research analysts at Morgan Stanley from $165.00 to $143.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s target price points to a potential upside of 29.06% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Lear from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. KeyCorp lowered their price target on Lear from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. They noted that the move was a valuation call. Barclays reiterated a “hold” rating and set a $117.00 price target on shares of Lear in a research report on Wednesday, July 31st. Credit Suisse Group lowered their price target on Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Longbow Research reiterated a “buy” rating and set a $190.00 price target on shares of Lear in a research report on Sunday, June 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $157.13.

LEA stock traded down $3.01 during mid-day trading on Wednesday, reaching $110.80. 3,388 shares of the company’s stock were exchanged, compared to its average volume of 677,127. The firm has a market capitalization of $6.74 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.49. The firm has a 50 day moving average of $129.57. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.52. Lear has a 12-month low of $110.90 and a 12-month high of $176.05.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Lear had a return on equity of 23.18% and a net margin of 4.38%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.95 EPS. Analysts predict that Lear will post 15.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Lear by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,040,569 shares of the auto parts company’s stock valued at $127,843,000 after purchasing an additional 27,314 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Lear in the first quarter worth $866,000. Meeder Asset Management Inc. lifted its stake in Lear by 23.5% in the first quarter. Meeder Asset Management Inc. now owns 13,869 shares of the auto parts company’s stock worth $1,882,000 after acquiring an additional 2,640 shares during the period. Northpointe Capital LLC lifted its stake in Lear by 7.2% in the first quarter. Northpointe Capital LLC now owns 15,280 shares of the auto parts company’s stock worth $2,074,000 after acquiring an additional 1,024 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Lear by 96.3% in the first quarter. Nisa Investment Advisors LLC now owns 9,422 shares of the auto parts company’s stock worth $1,279,000 after acquiring an additional 4,622 shares during the period. Institutional investors and hedge funds own 92.50% 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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Analyst Recommendations for Lear (NYSE:LEA)

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