Bank of America Increases Lear (NYSE:LEA) Price Target to $115.00

Lear (NYSE:LEA - Get Free Report) had its price objective increased by analysts at Bank of America from $110.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the auto parts company's stock. Bank of America's price objective suggests a potential upside of 24.29% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Barclays cut Lear from an "equal weight" rating to a "negative" rating in a research report on Tuesday, April 15th. Cowen lowered shares of Lear from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. TD Cowen lowered shares of Lear from a "buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research report on Friday, March 7th. The Goldman Sachs Group set a $88.00 price objective on shares of Lear and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $107.09.

Lear Trading Up 2.2%

Shares of LEA stock traded up $2.01 during mid-day trading on Monday, reaching $92.53. 90,942 shares of the stock traded hands, compared to its average volume of 719,160. Lear has a 1-year low of $73.85 and a 1-year high of $126.85. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.49 and a beta of 1.29. The stock's fifty day simple moving average is $87.17 and its two-hundred day simple moving average is $92.04.

Lear (NYSE:LEA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $0.48. Lear had a net margin of 2.17% and a return on equity of 14.70%. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the company earned $3.18 EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts anticipate that Lear will post 12.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group bought a new position in shares of Lear in the fourth quarter valued at approximately $90,700,000. Oldfield Partners LLP bought a new position in shares of Lear during the 1st quarter valued at $53,799,000. Massachusetts Financial Services Co. MA grew its position in Lear by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,212,579 shares of the auto parts company's stock worth $209,531,000 after acquiring an additional 498,918 shares during the last quarter. AQR Capital Management LLC raised its holdings in Lear by 483.4% during the 1st quarter. AQR Capital Management LLC now owns 567,335 shares of the auto parts company's stock valued at $49,625,000 after buying an additional 470,096 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Lear by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 6,491,895 shares of the auto parts company's stock valued at $614,782,000 after buying an additional 447,835 shares during the period. 97.04% of the stock is owned by 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.

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