JPMorgan Chase & Co. Increases Lear (NYSE:LEA) Price Target to $159.00

Key Points

• JPMorgan Chase & Co. raised Lear’s price target from $153 to $159 and maintained an overweight rating, implying about 16% upside from the current price.
• Lear shares were up 1.7% to $137.04, while the stock remains below its 12-month high of $150.33 and has a consensus analyst rating of Hold with a $144.23 target.
• The company recently posted better-than-expected earnings of $3.87 per share, beating estimates, and revenue rose 4.7% year over year, though insider selling and mixed analyst views remain notable.

Lear (NYSE:LEA - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $153.00 to $159.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 16.02% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen raised shares of Lear from a "hold" rating to a "buy" rating and increased their price target for the company from $138.00 to $165.00 in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their price objective on shares of Lear from $133.00 to $137.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. Citigroup upped their price objective on shares of Lear from $177.00 to $179.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their target price on Lear from $134.00 to $138.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $144.23.

Lear Trading Up 1.7%

Lear stock traded up $2.28 during trading hours on Friday, reaching $137.04. The company had a trading volume of 39,723 shares, compared to its average volume of 594,072. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. Lear has a 12-month low of $91.67 and a 12-month high of $150.33. The company has a 50-day moving average price of $137.75 and a 200 day moving average price of $128.64. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.66 and a beta of 1.25.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Lear will post 14.64 earnings per share for the current year.

Insider Transactions at Lear

In other news, Director Conrad L. Mallett, Jr. sold 190 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the completion of the transaction, the director owned 1,683 shares in the company, valued at $237,875.22. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason M. Cardew sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the transaction, the chief financial officer owned 13,241 shares of the company's stock, valued at approximately $1,953,047.50. The trade was a 27.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,026 shares of company stock valued at $8,498,248. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its holdings in Lear by 5,205.1% in the 1st quarter. Jones Financial Companies Lllp now owns 7,268 shares of the auto parts company's stock worth $604,000 after acquiring an additional 7,131 shares during the last quarter. United Services Automobile Association purchased a new stake in Lear during the 1st quarter valued at $267,000. Empowered Funds LLC bought a new stake in shares of Lear in the 1st quarter worth $256,000. EverSource Wealth Advisors LLC increased its holdings in shares of Lear by 37.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 968 shares of the auto parts company's stock worth $92,000 after purchasing an additional 262 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Lear by 9.5% in the second quarter. Cerity Partners LLC now owns 4,296 shares of the auto parts company's stock worth $408,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 97.04% of the company's stock.

More Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Barclays lifted its price target on Lear Corporation to $155 from $150, signaling higher expected value for the stock. Lear NYSE: LEA Given New $155.00 Price Target at Barclays
• Positive Sentiment: Earlier earnings results were supportive, as Lear posted EPS above consensus, which can continue to underpin investor sentiment.
• Neutral Sentiment: Barclays maintained an equal weight rating, indicating the firm is not calling for a major re-rating despite the higher target.

Lear Company Profile

Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.