Cowen Trims Lear (NYSE:LEA) Target Price to $180.00

Lear (NYSE:LEAGet Rating) had its price objective reduced by investment analysts at Cowen from $203.00 to $180.00 in a note issued to investors on Wednesday, The Fly reports. Cowen’s price target would suggest a potential upside of 33.93% from the company’s current price.

LEA has been the topic of several other reports. StockNews.com assumed coverage on shares of Lear in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company cut their target price on shares of Lear from $174.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, April 1st. BNP Paribas assumed coverage on shares of Lear in a research note on Monday, April 11th. They set an “underperform” rating and a $112.00 target price on the stock. Barclays cut their target price on shares of Lear from $161.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 7th. Finally, Royal Bank of Canada cut their target price on shares of Lear from $163.00 to $151.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $170.53.

Shares of LEA stock opened at $134.40 on Wednesday. The firm’s 50 day moving average price is $138.29 and its 200-day moving average price is $163.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.42. Lear has a one year low of $123.28 and a one year high of $204.91. The firm has a market cap of $8.03 billion, a P/E ratio of 21.78, a P/E/G ratio of 0.36 and a beta of 1.47.

Lear (NYSE:LEAGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $1.80 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.23). Lear had a return on equity of 9.99% and a net margin of 1.94%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the company posted $3.73 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Lear will post 8.98 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of LEA. Morgan Stanley grew its position in shares of Lear by 198.1% in the 2nd quarter. Morgan Stanley now owns 335,902 shares of the auto parts company’s stock valued at $58,878,000 after buying an additional 223,207 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Lear by 5.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,354 shares of the auto parts company’s stock worth $681,000 after purchasing an additional 220 shares during the period. Van ECK Associates Corp boosted its stake in Lear by 96.9% during the 3rd quarter. Van ECK Associates Corp now owns 191 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 94 shares during the period. Shell Asset Management Co. boosted its stake in Lear by 1.8% during the 3rd quarter. Shell Asset Management Co. now owns 4,319 shares of the auto parts company’s stock worth $676,000 after purchasing an additional 78 shares during the period. Finally, Xponance Inc. boosted its stake in Lear by 2.8% during the 3rd quarter. Xponance Inc. now owns 6,752 shares of the auto parts company’s stock worth $1,057,000 after purchasing an additional 186 shares during the period. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Lear Company Profile (Get Rating)

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.

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