Lear Co. (NYSE:LEA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lear Co. (NYSE:LEA) have earned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $140.25.

LEA has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group decreased their price objective on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wolfe Research initiated coverage on Lear in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, StockNews.com cut Lear from a “buy” rating to a “hold” rating in a research note on Wednesday.

Lear Price Performance

LEA opened at $97.89 on Friday. Lear has a 12-month low of $92.14 and a 12-month high of $147.11. 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 business’s fifty day simple moving average is $102.64 and its 200-day simple moving average is $112.78. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.52 and a beta of 1.46.

Lear (NYSE:LEA) last posted 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. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the company earned $2.87 EPS. The business’s revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lear will post 12.19 earnings per share for the current fiscal year.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, December 11th. Lear’s payout ratio is 32.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEA. Allspring Global Investments Holdings LLC raised its stake in shares of Lear by 14.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,101 shares of the auto parts company’s stock worth $304,000 after purchasing an additional 273 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Lear by 12.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,202 shares of the auto parts company’s stock worth $319,000 after acquiring an additional 240 shares during the period. Headlands Technologies LLC acquired a new stake in Lear during the first quarter worth about $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Lear by 196.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,135 shares of the auto parts company’s stock worth $1,323,000 after acquiring an additional 6,051 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Lear by 7.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 63,026 shares of the auto parts company’s stock worth $8,791,000 after acquiring an additional 4,552 shares during the period. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

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.