Barclays Trims Lear (NYSE:LEA) Target Price to $140.00

Lear (NYSE:LEA) had its price target decreased by equities research analysts at Barclays from $150.00 to $140.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. Barclays‘s target price indicates a potential upside of 32.49% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Wolfe Research initiated coverage on Lear in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley dropped their price target on Lear from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price target on shares of Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, UBS Group dropped their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.64.

Lear Stock Down 1.0 %

Shares of LEA stock traded down $1.10 during midday trading on Tuesday, reaching $105.67. 214,421 shares of the stock were exchanged, compared to its average volume of 643,059. The firm has a market cap of $6.00 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $110.13 and its two-hundred day moving average is $119.86. Lear has a 1 year low of $101.67 and a 1 year high of $147.11.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.33 EPS. On average, equities research analysts predict that Lear will post 12.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in shares of Lear by 15.2% in the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock valued at $820,929,000 after acquiring an additional 946,109 shares during the period. Vanguard Group Inc. lifted its stake in Lear by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after acquiring an additional 109,746 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Lear by 9.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after purchasing an additional 238,964 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after purchasing an additional 504,091 shares during the period. Finally, Greenhaven Associates Inc. raised its stake in shares of Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after buying an additional 17,820 shares during the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

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.