Wells Fargo & Company Lowers Lear (NYSE:LEA) Price Target to $106.00

Lear (NYSE:LEA) had its target price cut by research analysts at Wells Fargo & Company from $114.00 to $106.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.98% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Bank of America dropped their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Citigroup decreased their price objective on Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Evercore ISI cut their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, July 15th. UBS Group lowered their price target on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lear has a consensus rating of “Moderate Buy” and a consensus price target of $144.36.

Lear Price Performance

Shares of NYSE LEA opened at $98.17 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $109.30 and its 200-day moving average price is $118.06. The firm has a market capitalization of $5.57 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.44 and a beta of 1.44. Lear has a 1-year low of $97.51 and a 1-year high of $147.11.

Lear (NYSE:LEA) last issued its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. Lear’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts anticipate that Lear will post 12.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LEA. Altshuler Shaham Ltd bought a new position in shares of Lear in the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in Lear in the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC grew its position in shares of Lear by 70.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 214 shares during the period. Finally, Signaturefd LLC raised its position in shares of Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after buying an additional 139 shares in the last quarter. 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.