Lear (NYSE:LEA) Rating Lowered to “Hold” at TD Cowen

Lear (NYSE:LEA) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $95.00 price objective on the auto parts company’s stock. TD Cowen’s target price would indicate a potential downside of 4.03% from the stock’s previous close.

A number of other research firms also recently weighed in on LEA. Evercore ISI dropped their price target on shares of Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a research note on Monday, February 10th. Morgan Stanley dropped their price target on shares of Lear from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Barclays dropped their price target on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on shares of Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.36.

Lear Price Performance

Shares of LEA stock opened at $98.99 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.49 and a beta of 1.44. The firm’s 50 day moving average is $94.97 and its 200-day moving average is $100.32. Lear has a 1 year low of $86.28 and a 1 year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Sell-side analysts forecast that Lear will post 12.89 EPS for the current fiscal year.

Insider Transactions at Lear

In related news, Director Rod Lache acquired 2,178 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares of the company’s stock, valued at approximately $199,940.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Lear

Several large investors have recently made changes to their positions in the stock. Brooklyn Investment Group increased its position in shares of Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 120 shares in the last quarter. Lakewood Asset Management LLC increased its position in shares of Lear by 1.3% during the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock worth $943,000 after acquiring an additional 126 shares in the last quarter. Quarry LP boosted its holdings in Lear by 13.8% during the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 134 shares during the last quarter. Addison Advisors LLC boosted its holdings in Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 137 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after buying an additional 143 shares during the last quarter. Institutional investors 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.