Wells Fargo & Company Trims Lear (NYSE:LEA) Target Price to $131.00

Lear (NYSE:LEA) had its price target dropped by research analysts at Wells Fargo & Company from $132.00 to $131.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.48% from the stock’s current price.

A number of other research analysts have also issued reports on LEA. Barclays decreased their target price on Lear from $165.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Bank of America lowered their price objective on Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Citigroup reduced their target price on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Evercore ISI lowered their price target on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Finally, UBS Group dropped their price objective on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.70.

Lear Stock Up 3.7 %

Shares of NYSE:LEA opened at $120.76 on Friday. The firm’s 50-day moving average is $119.80 and its two-hundred day moving average is $130.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.33 and a quick ratio of 1.04. Lear has a 1 year low of $112.26 and a 1 year high of $157.90. The firm has a market capitalization of $6.86 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.34 and a beta of 1.47.

Lear (NYSE:LEA) last announced its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.26. Lear had a net margin of 2.28% and a return on equity of 14.47%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm earned $3.33 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Lear will post 13.61 EPS for the current year.

Insider Transactions at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $124.55, for a total value of $159,174.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Smith sold 2,392 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Several institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in shares of Lear by 32.3% in the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after purchasing an additional 91 shares during the period. State of Michigan Retirement System raised its position in Lear by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock worth $2,665,000 after buying an additional 100 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Lear by 2.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock worth $555,000 after buying an additional 100 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after acquiring an additional 124 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Lear by 16.8% in the first quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company’s stock valued at $128,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

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.