Lear (NYSE:LEA) Price Target Cut to $135.00 by Analysts at Morgan Stanley

Lear (NYSE:LEA) had its price target decreased by Morgan Stanley from $145.00 to $135.00 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the auto parts company’s stock.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered their price objective on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lowered their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wolfe Research assumed coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $132.00 price target on shares of Lear in a research note on Tuesday, September 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.25.

Lear Stock Down 0.1 %

Shares of LEA traded down $0.10 during mid-day trading on Thursday, hitting $95.96. The company’s stock had a trading volume of 281,871 shares, compared to its average volume of 658,012. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average is $103.95 and its 200-day moving average is $114.15. Lear has a 52-week low of $94.29 and a 52-week high of $147.11. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.55 and a beta of 1.46.

Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 earnings per share. On average, equities research analysts forecast that Lear will post 12.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in Lear during the 2nd quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of Lear during the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Brooklyn Investment Group acquired a new position in Lear in the 3rd quarter valued at about $34,000. Finally, Blue Trust Inc. lifted its holdings in Lear by 240.4% in the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

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.