Lear (NYSE:LEA) Price Target Cut to $135.00

Lear (NYSE:LEA) had its price target lowered by investment analysts at The Goldman Sachs Group from $144.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the auto parts company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 24.99% from the stock’s previous close.

LEA has been the subject of a number of other reports. Bank of America lowered their price objective on Lear from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on Lear from $179.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company decreased their price target on Lear from $131.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Citigroup decreased their price target on Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, UBS Group decreased their price target on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Lear has an average rating of “Moderate Buy” and an average price target of $147.91.

Lear Stock Performance

Shares of LEA stock traded down $1.14 on Tuesday, hitting $108.01. 293,352 shares of the stock traded hands, compared to its average volume of 645,035. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The company has a market capitalization of $6.13 billion, a PE ratio of 11.78, a PEG ratio of 0.43 and a beta of 1.45. Lear has a 1-year low of $101.67 and a 1-year high of $147.11. The company’s fifty day moving average is $112.52 and its 200 day moving average is $122.45.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $3.33 EPS. On average, equities research analysts predict that Lear will post 12.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lear

Several hedge funds have recently modified their holdings of LEA. Grimes & Company Inc. purchased a new stake in Lear in the 1st quarter worth about $5,847,000. Alaska Permanent Fund Corp lifted its stake in Lear by 307.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 12,869 shares of the auto parts company’s stock worth $1,864,000 after acquiring an additional 9,714 shares in the last quarter. Swedbank AB purchased a new stake in Lear in the 1st quarter worth about $1,984,000. Asahi Life Asset Management CO. LTD. purchased a new stake in Lear in the 4th quarter worth about $333,000. Finally, Point72 Asset Management L.P. lifted its stake in Lear by 970.4% in the 4th quarter. Point72 Asset Management L.P. now owns 540,850 shares of the auto parts company’s stock worth $76,373,000 after acquiring an additional 490,324 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.