Barclays Lowers Lear (NYSE:LEA) Price Target to $115.00

Lear (NYSE:LEA) had its target price cut by equities research analysts at Barclays from $120.00 to $115.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s price target points to a potential upside of 21.52% from the stock’s previous close.

Several other equities analysts have also issued reports on LEA. Wells Fargo & Company cut their target price on Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Bank of America reduced their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, The Goldman Sachs Group dropped their target price on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lear currently has a consensus rating of “Hold” and an average target price of $133.73.

Lear Price Performance

Shares of LEA opened at $94.63 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The company has a 50 day moving average price of $95.93 and a 200-day moving average price of $104.83. Lear has a fifty-two week low of $90.03 and a fifty-two week high of $147.11. The stock has a market capitalization of $5.14 billion, a PE ratio of 9.95, a PEG ratio of 0.50 and a beta of 1.43.

Lear (NYSE:LEA) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.87 EPS. Equities analysts predict that Lear will post 12.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC boosted its holdings in shares of Lear by 7.3% in the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company’s stock valued at $842,054,000 after acquiring an additional 526,763 shares during the last quarter. Greenhaven Associates Inc. lifted its position in Lear by 1.2% during the fourth quarter. Greenhaven Associates Inc. now owns 1,842,247 shares of the auto parts company’s stock valued at $174,461,000 after purchasing an additional 22,601 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Lear by 13.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company’s stock valued at $187,046,000 after purchasing an additional 206,822 shares during the last quarter. Pacer Advisors Inc. grew its position in Lear by 24.3% during the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company’s stock worth $137,975,000 after purchasing an additional 247,312 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Lear by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company’s stock valued at $124,621,000 after buying an additional 44,128 shares during 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.