Wells Fargo & Company Lowers Lear (NYSE:LEA) Price Target to $106.00

Lear (NYSE:LEA) had its price target lowered by analysts at Wells Fargo & Company from $114.00 to $106.00 in a research report issued to clients and investors on Friday, 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 7.45% from the stock’s previous close.

Several other research firms have also issued reports on LEA. Barclays lowered their target price on shares of Lear from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group cut their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Morgan Stanley lowered their price target on Lear from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Finally, UBS Group reduced 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.75.

Lear Price Performance

Shares of LEA stock opened at $98.65 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 0.50 and a beta of 1.44. The business’s fifty day moving average is $109.02 and its 200 day moving average is $117.58. Lear has a twelve month low of $97.51 and a twelve month high of $147.11.

Lear (NYSE:LEA) last released its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.30% and a return on equity of 14.75%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the firm earned $2.87 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. Research analysts expect that Lear will post 12.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Lear in the second quarter valued at about $26,000. Headlands Technologies LLC bought a new position in shares of Lear in the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Lear by 70.5% in the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares during the last quarter. Blue Trust Inc. grew its position in Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after buying an additional 214 shares during the period. Finally, Signaturefd LLC increased its holdings in Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after buying an additional 139 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

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.