Lear (NYSE:LEA) Price Target Raised to $115.00 at Bank of America

Lear (NYSE:LEA) had its target price upped by Bank of America from $110.00 to $115.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the auto parts company’s stock.

LEA has been the topic of a number of other research reports. Wall Street Zen raised Lear from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Cowen downgraded Lear from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup initiated coverage on Lear in a report on Wednesday, April 23rd. They issued a “buy” rating and a $123.00 target price on the stock. TD Cowen downgraded Lear from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a report on Friday, March 7th. Finally, The Goldman Sachs Group set a $88.00 price objective on Lear and gave the company a “neutral” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Lear has a consensus rating of “Hold” and an average price target of $107.09.

Lear Price Performance

Lear stock opened at $92.54 on Monday. The stock’s fifty day moving average price is $87.52 and its two-hundred day moving average price is $92.01. The firm has a market cap of $4.95 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. Lear has a one year low of $73.85 and a one year high of $126.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.02.

Lear (NYSE:LEA) last issued its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.48. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Lear had a return on equity of 14.70% and a net margin of 2.17%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.18 EPS. As a group, research analysts expect that Lear will post 12.89 EPS for the current fiscal year.

Lear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, June 5th. Lear’s payout ratio is presently 36.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LEA. Addison Advisors LLC lifted its holdings in Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after buying an additional 137 shares during the period. WPG Advisers LLC acquired a new position in Lear during the 1st quarter worth about $39,000. Quadrant Capital Group LLC lifted its holdings in Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock worth $46,000 after buying an additional 166 shares during the period. Putney Financial Group LLC bought a new position in shares of Lear in the 4th quarter worth about $58,000. Finally, Fifth Third Bancorp raised its position in shares of Lear by 131.8% in the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company’s stock worth $67,000 after acquiring an additional 435 shares in the last quarter. 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.