Lear (NYSE:LEA) Price Target Raised to $204.00

Lear (NYSE:LEA) had its price target lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $177.00 to $204.00 in a research report issued on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 6.78% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Lear from a “buy” rating to a “hold” rating and cut their target price for the company from $200.00 to $171.00 in a report on Monday, September 20th. Wells Fargo & Company lowered shares of Lear from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $191.00 to $195.00 in a report on Thursday, December 16th. The Goldman Sachs Group cut their price target on shares of Lear from $198.00 to $193.00 and set a “buy” rating for the company in a report on Sunday, September 26th. Bank of America lowered shares of Lear from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $200.00 to $160.00 in a report on Thursday, September 16th. Finally, Barclays cut their price target on shares of Lear from $170.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, December 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $192.93.

NYSE:LEA opened at $191.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 0.29 and a beta of 1.53. The company has a 50 day moving average price of $181.06 and a 200-day moving average price of $171.14. Lear has a 1-year low of $144.77 and a 1-year high of $204.91.

Lear (NYSE:LEA) last posted its earnings results on Monday, November 1st. The auto parts company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Lear had a net margin of 2.82% and a return on equity of 13.20%. During the same period last year, the firm earned $3.73 earnings per share. On average, sell-side analysts anticipate that Lear will post 7.8 earnings per share for the current fiscal year.

In other Lear news, VP Marianne Vidershain sold 170 shares of Lear stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $179.01, for a total transaction of $30,431.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.

Several hedge funds have recently made changes to their positions in LEA. HighTower Advisors LLC boosted its position in shares of Lear by 12.8% during the 2nd quarter. HighTower Advisors LLC now owns 2,403 shares of the auto parts company’s stock valued at $422,000 after acquiring an additional 273 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Lear by 18.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,104 shares of the auto parts company’s stock valued at $1,946,000 after acquiring an additional 1,763 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Lear by 32.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,220 shares of the auto parts company’s stock valued at $213,000 after acquiring an additional 301 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Lear by 53.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 45,424 shares of the auto parts company’s stock valued at $7,962,000 after buying an additional 15,754 shares during the period. Finally, Ethic Inc. raised its holdings in Lear by 96.0% in the 2nd quarter. Ethic Inc. now owns 3,166 shares of the auto parts company’s stock valued at $555,000 after buying an additional 1,551 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

About Lear

Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.

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