Lear (NYSE:LEA) Price Target Lowered to $135.00 at Morgan Stanley

Lear (NYSE:LEA) had its price target lowered by Morgan Stanley from $145.00 to $135.00 in a research report report published on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the auto parts company’s stock.

LEA has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Bank of America reduced their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen reduced their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.25.

Lear Stock Performance

Shares of NYSE LEA opened at $95.61 on Thursday. Lear has a one year low of $94.29 and a one year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.53 and a beta of 1.46. The stock’s fifty day moving average price is $103.66 and its two-hundred day moving average price is $113.70.

Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.87 earnings per share. On average, equities analysts forecast that Lear will post 12.19 EPS for the current year.

Institutional Investors Weigh In On Lear

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in Lear by 4.0% in the third quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company’s stock valued at $124,621,000 after purchasing an additional 44,128 shares during the last quarter. Barclays PLC raised its holdings in Lear by 9.8% in the 3rd quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock valued at $14,742,000 after buying an additional 12,094 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Lear by 8.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,068 shares of the auto parts company’s stock worth $7,539,000 after buying an additional 5,500 shares during the period. MML Investors Services LLC boosted its position in Lear by 49.9% during the 3rd quarter. MML Investors Services LLC now owns 3,207 shares of the auto parts company’s stock worth $350,000 after buying an additional 1,068 shares during the period. Finally, XTX Topco Ltd bought a new stake in Lear during the 3rd quarter worth approximately $284,000. Institutional investors and hedge funds 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.