Lear (LEA) Given “Hold” Rating at Barclays

Lear (NYSE:LEA)‘s stock had its “hold” rating reiterated by Barclays in a research note issued on Wednesday. They currently have a $170.00 price target on the auto parts company’s stock. Barclays’ target price suggests a potential upside of 29.55% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, July 27th. Morgan Stanley raised shares of Lear from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $209.00 to $214.00 in a report on Tuesday, July 31st. Zacks Investment Research raised shares of Lear from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Goldman Sachs Group raised shares of Lear from a “neutral” rating to a “buy” rating and set a $195.00 price target for the company in a report on Thursday, October 11th. Finally, Citigroup cut their price target on shares of Lear from $234.00 to $214.00 and set a “buy” rating for the company in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Lear presently has a consensus rating of “Buy” and a consensus price target of $204.38.

Shares of LEA traded down $3.28 during mid-day trading on Wednesday, hitting $131.22. 2,988 shares of the company’s stock were exchanged, compared to its average volume of 738,734. Lear has a fifty-two week low of $132.35 and a fifty-two week high of $206.36. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 7.83 and a beta of 1.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.35.

Lear (NYSE:LEA) last announced its earnings results on Thursday, July 26th. The auto parts company reported $4.95 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.04). Lear had a return on equity of 28.84% and a net margin of 6.31%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the company posted $4.39 EPS. Lear’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Lear will post 18.72 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Assetmark Inc. increased its holdings in Lear by 8.3% in the first quarter. Assetmark Inc. now owns 3,348 shares of the auto parts company’s stock valued at $623,000 after buying an additional 257 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Lear by 30.3% during the 2nd quarter. HighPoint Advisor Group LLC now owns 1,276 shares of the auto parts company’s stock worth $220,000 after purchasing an additional 297 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of Lear by 8.0% during the 2nd quarter. First Mercantile Trust Co. now owns 4,576 shares of the auto parts company’s stock worth $851,000 after purchasing an additional 340 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of Lear by 1.9% during the 2nd quarter. Vident Investment Advisory LLC now owns 19,024 shares of the auto parts company’s stock worth $3,535,000 after purchasing an additional 352 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of Lear by 1.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 38,545 shares of the auto parts company’s stock worth $7,162,000 after purchasing an additional 430 shares in the last quarter. 91.36% of the stock is owned by institutional investors.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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Analyst Recommendations for Lear (NYSE:LEA)

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