StockNews.com Downgrades Lear (NYSE:LEA) to Hold

Lear (NYSE:LEA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research firms have also commented on LEA. Citigroup reduced their price target on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their price target on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. UBS Group reduced their price target on Lear from $146.00 to $142.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on Lear from $134.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Lear Trading Up 0.1 %

Shares of LEA stock opened at $129.25 on Wednesday. The stock’s fifty day moving average is $137.47 and its two-hundred day moving average is $135.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. The firm has a market capitalization of $7.34 billion, a P/E ratio of 14.09, a PEG ratio of 0.31 and a beta of 1.55. Lear has a fifty-two week low of $120.48 and a fifty-two week high of $157.90.

Lear (NYSE:LEA) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the firm earned $2.78 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts expect that Lear will post 14.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the transaction, the chief financial officer now directly owns 17,506 shares of the company’s stock, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lear

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Partners II LLC lifted its stake in Lear by 5.0% during the third quarter. Advisor Partners II LLC now owns 1,921 shares of the auto parts company’s stock worth $258,000 after purchasing an additional 91 shares during the last quarter. Signaturefd LLC lifted its stake in Lear by 32.3% during the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 91 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Lear by 4.5% during the third quarter. CIBC Asset Management Inc now owns 2,152 shares of the auto parts company’s stock worth $289,000 after purchasing an additional 93 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Lear by 4.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,975 shares of the auto parts company’s stock worth $265,000 after purchasing an additional 93 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Lear by 0.5% during the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock worth $2,665,000 after purchasing an additional 100 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

Lear Company Profile

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.