Lear (NYSE:LEA) Price Target Cut to $125.00

Lear (NYSE:LEA) had its price target cut by TD Cowen from $142.00 to $125.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. TD Cowen’s price objective points to a potential upside of 25.92% from the company’s previous close.

Several other brokerages also recently issued reports on LEA. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday. Barclays lowered their price objective on shares of Lear from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Citigroup cut their price target on shares of Lear from $141.00 to $127.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, UBS Group decreased their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lear presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.75.

Lear Trading Up 1.1 %

Shares of NYSE LEA traded up $1.10 during midday trading on Friday, reaching $99.27. 582,834 shares of the stock were exchanged, compared to its average volume of 657,347. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. Lear has a 12 month low of $97.51 and a 12 month high of $147.11. The business has a 50-day simple moving average of $109.30 and a two-hundred day simple moving average of $118.06. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.44 and a beta of 1.44.

Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.32. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company earned $2.87 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Lear will post 12.49 EPS for the current year.

Institutional Trading of Lear

Several institutional investors have recently modified their holdings of LEA. Abich Financial Wealth Management LLC bought a new position in Lear during the 3rd quarter worth $72,000. Semanteon Capital Management LP acquired a new stake in shares of Lear in the third quarter valued at about $1,144,000. State of Alaska Department of Revenue lifted its stake in shares of Lear by 5.5% in the third quarter. State of Alaska Department of Revenue now owns 6,533 shares of the auto parts company’s stock worth $713,000 after acquiring an additional 340 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Lear by 24.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 66,098 shares of the auto parts company’s stock valued at $7,376,000 after acquiring an additional 13,097 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in Lear during the 3rd quarter valued at approximately $886,000. Institutional investors 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.