Lear (NYSE:LEA) Price Target Cut to $141.00

Lear (NYSE:LEA) had its target price reduced by analysts at Citigroup from $145.00 to $141.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s price objective would indicate a potential upside of 11.39% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. UBS Group reduced their target price on Lear from $146.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Wells Fargo & Company increased their target price on Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Lear has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Lear Stock Up 1.8 %

NYSE LEA opened at $126.58 on Wednesday. The stock has a market cap of $7.21 billion, a PE ratio of 13.80, a P/E/G ratio of 0.31 and a beta of 1.55. Lear has a fifty-two week low of $117.79 and a fifty-two week high of $157.90. The business has a 50 day moving average price of $138.40 and a two-hundred day moving average price of $135.69. The company has a quick ratio of 1.04, a current ratio of 1.33 and a debt-to-equity ratio of 0.55.

Lear (NYSE:LEA) last released its earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.04 by $0.14. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.78 EPS. As a group, sell-side analysts predict that Lear will post 14.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lear news, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the sale, the chief executive officer now directly owns 13,627 shares of the company’s stock, valued at $1,810,483.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lear news, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the sale, the chief executive officer now directly owns 13,627 shares of the company’s stock, valued at $1,810,483.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now directly owns 17,506 shares in the company, valued at $2,465,019.86. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Nordea Investment Management AB increased its holdings in shares of Lear by 13.8% during the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock valued at $174,382,000 after purchasing an additional 149,958 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Lear during the fourth quarter valued at $1,356,000. Louisiana State Employees Retirement System acquired a new position in shares of Lear during the fourth quarter valued at $2,316,000. abrdn plc increased its holdings in shares of Lear by 90.1% during the fourth quarter. abrdn plc now owns 22,432 shares of the auto parts company’s stock valued at $3,168,000 after purchasing an additional 10,631 shares during the period. Finally, Lakewood Asset Management LLC increased its holdings in shares of Lear by 7.2% during the fourth quarter. Lakewood Asset Management LLC now owns 9,995 shares of the auto parts company’s stock valued at $1,411,000 after purchasing an additional 675 shares during the period. 97.04% of the stock is 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.