Wall Street Zen Downgrades Lear (NYSE:LEA) to Buy

Lear (NYSE:LEA) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. Barclays boosted their price target on Lear from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Lear from $113.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. The Goldman Sachs Group set a $104.00 price target on Lear in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. boosted their price target on Lear from $119.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Lear currently has an average rating of “Hold” and a consensus target price of $115.00.

Lear Price Performance

Lear stock opened at $104.60 on Friday. The stock’s 50 day moving average is $104.20 and its 200 day moving average is $97.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07. The firm has a market cap of $5.57 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.82 and a beta of 1.32. Lear has a one year low of $73.85 and a one year high of $113.10.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 earnings per share. Lear has set its FY 2025 guidance at EPS. As a group, research analysts expect that Lear will post 12.89 EPS for the current year.

Hedge Funds Weigh In On Lear

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Lear by 1,384.2% during the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 263 shares during the period. WealthCollab LLC acquired a new position in shares of Lear during the second quarter worth approximately $28,000. Quent Capital LLC acquired a new position in shares of Lear during the third quarter worth approximately $38,000. Farther Finance Advisors LLC grew its holdings in Lear by 34.0% during the third quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after buying an additional 107 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in Lear during the first quarter worth $39,000. 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.