Lear (NYSE:LEA) Price Target Cut to $143.00 by Analysts at JPMorgan Chase & Co.

Lear (NYSE:LEA) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $147.00 to $143.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 45.74% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on LEA. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Bank of America reduced their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley decreased their target price on shares of Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Barclays cut their target price on Lear from $120.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Lear from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Seven research 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 has an average rating of “Hold” and an average target price of $132.18.

Lear Stock Up 1.9 %

LEA traded up $1.83 during trading hours on Monday, hitting $98.12. 824,219 shares of the company’s stock were exchanged, compared to its average volume of 611,764. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. Lear has a 1-year low of $90.03 and a 1-year high of $147.11. The stock’s 50-day moving average is $95.94 and its two-hundred day moving average is $104.57. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.49 and a beta of 1.43.

Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.87 earnings per share. Sell-side analysts predict that Lear will post 12.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in 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 in the last quarter. Greenhaven Associates Inc. boosted its position in shares of 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 buying an additional 22,601 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Lear by 13.7% in the 3rd 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 buying an additional 206,822 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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 valued at $137,975,000 after acquiring an additional 247,312 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 worth $124,621,000 after acquiring an additional 44,128 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

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.