StockNews.com Lowers Lear (NYSE:LEA) to Hold

Lear (NYSE:LEA) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other research firms have also commented on LEA. UBS Group dropped their target price on Lear from $142.00 to $136.00 and set a “neutral” rating on the stock in a report on Thursday, June 13th. Barclays dropped their target price on Lear from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley raised Lear from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $160.00 in a report on Friday, May 10th. Citigroup dropped their target price on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.78.

Lear Stock Up 0.9 %

Shares of LEA stock opened at $117.12 on Tuesday. The stock’s 50-day simple moving average is $126.18 and its 200-day simple moving average is $133.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. The firm has a market capitalization of $6.65 billion, a PE ratio of 12.77, a P/E/G ratio of 0.30 and a beta of 1.51. Lear has a fifty-two week low of $113.14 and a fifty-two week high of $157.90.

Lear (NYSE:LEA) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6 billion. Lear had a return on equity of 14.47% and a net margin of 2.28%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.78 earnings per share. Equities analysts expect that Lear will post 14.22 earnings per share for the current year.

Insider Activity

In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 SEC, which is available at the SEC website. In other news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 SEC, which is available at the SEC website. Also, Director Greg C. Smith sold 2,392 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total value of $296,273.12. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in Lear by 32.3% during the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock worth $53,000 after buying an additional 91 shares in the last quarter. State of Michigan Retirement System lifted its position in Lear by 0.5% during the first 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 in the last quarter. Daiwa Securities Group Inc. lifted its position in Lear by 2.7% during the first 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Lear by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after buying an additional 124 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in Lear by 16.8% during the first quarter. Fifth Third Bancorp now owns 882 shares of the auto parts company’s stock worth $128,000 after buying an additional 127 shares in the last quarter. Hedge funds and other 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.