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

Lear (NYSE:LEA) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Friday,Finviz reports. They presently have a $95.00 price target on the auto parts company’s stock. TD Cowen’s target price points to a potential downside of 0.03% from the company’s current price.

Several other analysts have also issued reports on LEA. Morgan Stanley decreased their price target on shares of Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays cut their price target on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. UBS Group lowered their price target on shares of Lear from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Lear presently has an average rating of “Hold” and a consensus target price of $123.36.

Lear Stock Performance

Shares of LEA opened at $95.03 on Friday. The company’s fifty day moving average is $94.90 and its 200-day moving average is $100.57. Lear has a 12 month low of $86.28 and a 12 month high of $147.11. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.49 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.

Lear (NYSE:LEA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Lear will post 12.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Lear

Several institutional investors and hedge funds have recently modified their holdings of LEA. Nisa Investment Advisors LLC grew its stake in shares of Lear by 187.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 187 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of Lear by 68.2% in the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 137 shares during the last quarter. Brooklyn Investment Group bought a new position in Lear in the 3rd quarter valued at approximately $34,000. UMB Bank n.a. raised its holdings in Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock valued at $39,000 after buying an additional 287 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Lear by 51.1% in the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock valued at $46,000 after buying an additional 166 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.