Wells Fargo & Company Issues Pessimistic Forecast for Lear (NYSE:LEA) Stock Price

Lear (NYSE:LEA) had its price target cut by Wells Fargo & Company from $112.00 to $107.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 0.19% from the company’s current price.

Several other equities research analysts have also commented on LEA. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research report on Monday, November 24th. Wall Street Zen downgraded shares of Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Bank of America lowered shares of Lear from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $123.00 in a research note on Wednesday, September 10th. Finally, UBS Group cut their price objective on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lear presently has an average rating of “Hold” and an average price target of $118.80.

Lear Price Performance

NYSE LEA traded up $1.36 during trading hours on Tuesday, reaching $106.79. The company’s stock had a trading volume of 330,418 shares, compared to its average volume of 691,361. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 0.92 and a beta of 1.33. The company’s 50-day moving average is $104.04 and its two-hundred day moving average is $101.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.05. Lear has a 1-year low of $73.85 and a 1-year high of $113.10.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 earnings per share. On average, equities analysts predict that Lear will post 12.89 EPS for the current year.

Institutional Trading of Lear

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Lear by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock worth $587,315,000 after acquiring an additional 165,494 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lear by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,784,110 shares of the auto parts company’s stock valued at $280,106,000 after purchasing an additional 57,443 shares during the period. Schroder Investment Management Group increased its position in Lear by 1.3% during the third quarter. Schroder Investment Management Group now owns 1,825,057 shares of the auto parts company’s stock worth $182,688,000 after purchasing an additional 23,773 shares during the last quarter. American Century Companies Inc. raised its stake in Lear by 23.6% during the third quarter. American Century Companies Inc. now owns 1,569,341 shares of the auto parts company’s stock worth $157,891,000 after purchasing an additional 299,841 shares during the period. Finally, Lyrical Asset Management LP boosted its holdings in Lear by 0.3% in the 1st quarter. Lyrical Asset Management LP now owns 1,060,216 shares of the auto parts company’s stock valued at $93,532,000 after purchasing an additional 3,522 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Lear Company Profile

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.