Lear (NYSE:LEA) Given Neutral Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its “neutral” rating on Lear but cut its price target from $175 to $150, implying approximately 18.5% upside from the stock’s $126.60 price.
• Analyst sentiment remains cautious: Lear has an average “Hold” rating and a consensus price target of $146.33, with 12 analysts rating it Hold compared with four assigning Buy or Strong Buy ratings.
• Lear exceeded quarterly expectations, reporting $4.28 in earnings per share versus the $3.98 consensus and $6.21 billion in revenue versus $6.15 billion expected; however, company insiders recently sold shares, and institutional investors own 97.04% of the stock.

Lear (NYSE:LEA - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports. They presently have a $150.00 price target on the auto parts company's stock, down from their previous price target of $175.00. JPMorgan Chase & Co.'s target price points to a potential upside of 18.48% from the company's current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $140.00 price objective on shares of Lear in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft set a $131.00 target price on shares of Lear in a report on Monday, August 3rd. Weiss Ratings cut shares of Lear from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, September 9th. Wall Street Zen raised shares of Lear from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, TD Cowen upgraded shares of Lear from a "hold" rating to a "buy" rating and lifted their price target for the company from $138.00 to $165.00 in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $146.33.

Lear Price Performance

NYSE:LEA traded down $2.27 on Tuesday, reaching $126.60. 183,440 shares of the company's stock traded hands, compared to its average volume of 602,354. The stock has a 50-day simple moving average of $131.16 and a 200-day simple moving average of $130.56. Lear has a 12 month low of $96.04 and a 12 month high of $150.33. The firm has a market cap of $6.24 billion, a PE ratio of 11.82, a P/E/G ratio of 0.80 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $3.98 by $0.30. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.15 billion. Lear had a return on equity of 14.18% and a net margin of 2.35%.The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 earnings per share. Equities research analysts forecast that Lear will post 14.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Raymond E. Scott sold 50,000 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $135.37, for a total value of $6,768,500.00. Following the sale, the chief executive officer owned 49,789 shares in the company, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Conrad Mallett, Jr. sold 1,646 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $121.35, for a total transaction of $199,742.10. Following the sale, the director directly owned 37 shares in the company, valued at approximately $4,489.95. The trade was a 97.80% decrease in their position. The SEC filing for this sale provides additional information. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd grew its position in Lear by 36.5% in the first quarter. Altshuler Shaham Ltd now owns 303 shares of the auto parts company's stock worth $37,000 after acquiring an additional 81 shares in the last quarter. Allworth Financial LP raised its position in Lear by 32.0% during the fourth quarter. Allworth Financial LP now owns 408 shares of the auto parts company's stock valued at $47,000 after purchasing an additional 99 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Lear during the fourth quarter valued at approximately $59,000. IFP Advisors Inc lifted its stake in shares of Lear by 62.7% in the 4th quarter. IFP Advisors Inc now owns 524 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 202 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Lear by 57.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 576 shares of the auto parts company's stock valued at $66,000 after purchasing an additional 210 shares during the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Neutral Sentiment: The recent headlines concern online gaming, college debt, cryptocurrency exchanges, education, inheritances, entertainment, artificial intelligence and cryptocurrency listings. None discusses Lear, its automotive-supply business, customers, production, earnings, guidance, acquisitions or management. Recent unrelated headlines
• Neutral Sentiment: In the absence of a Lear-specific catalyst, the stock’s movement may reflect broader trading in automotive suppliers, vehicle-production expectations, tariffs, consumer demand or general market factors; the supplied information does not identify which factor is responsible.

About Lear

Lear Corporation is a global automotive technology company that designs and manufactures systems and components used in passenger vehicles. Its business is organized primarily around two areas: seating and E-Systems. Lear supplies complete vehicle seating systems, including seats, structures, mechanisms, foam, covers and related components, as well as electrical distribution systems and other technologies that help manage power, data and connectivity within vehicles.

The company's E-Systems offerings include low- and high-voltage wiring systems, connection systems, battery and power-management solutions, electronic control modules, displays and software-enabled technologies.

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