Lear (NYSE:LEA) Given New $133.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Lear (NYSE:LEA) from $119.00 to $133.00, indicating a potential upside of 34.09% from the company's previous close.
• Bank of America recently downgraded Lear's rating from "buy" to "neutral," lowering its price target to $123.00, while other firms like Goldman Sachs and Barclays have set target prices of $104.00 and $120.00 respectively.
• Lear's recent quarterly earnings report revealed an EPS of $3.47, which surpassed analyst expectations, and the firm's revenue for the quarter reached $6.03 billion.

Lear (NYSE:LEA - Get Free Report) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $119.00 to $133.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 34.09% from the company's previous close.

A number of other equities research analysts also recently commented on the company. Bank of America downgraded Lear from a "buy" rating to a "neutral" rating and reduced their target price for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. The Goldman Sachs Group set a $104.00 price target on Lear in a research note on Monday, September 29th. Barclays increased their price objective on shares of Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup reiterated a "neutral" rating on shares of Lear in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lear in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Lear has a consensus rating of "Hold" and a consensus price target of $115.00.

Lear Stock Performance

Shares of LEA stock traded down $0.27 during mid-day trading on Monday, hitting $99.19. The stock had a trading volume of 465,613 shares, compared to its average volume of 697,561. Lear has a fifty-two week low of $73.85 and a fifty-two week high of $113.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07. The company's 50-day simple moving average is $104.30 and its 200-day simple moving average is $96.33. The firm has a market cap of $5.28 billion, a PE ratio of 11.57, a PEG ratio of 0.79 and a beta of 1.32.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The auto parts company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same quarter last year, the firm earned $3.60 earnings per share. The firm's revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Lear will post 12.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jason M. Cardew sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total value of $492,350.00. Following the completion of the sale, the chief financial officer directly owned 20,244 shares in the company, valued at approximately $1,993,426.68. The trade was a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the transaction, the chief executive officer directly owned 38,729 shares of the company's stock, valued at approximately $3,747,805.33. This represents a 11.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company's stock.

Hedge Funds Weigh In On Lear

A number of large investors have recently bought and sold shares of LEA. IFP Advisors Inc grew its holdings in shares of Lear by 1,384.2% during the second quarter. IFP Advisors Inc now owns 282 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 263 shares during the last quarter. WealthCollab LLC bought a new position in Lear during the 2nd quarter worth $28,000. Farther Finance Advisors LLC increased its position in Lear by 34.0% in the third quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company's stock worth $42,000 after buying an additional 107 shares during the period. WPG Advisers LLC bought a new stake in Lear in the first quarter valued at $39,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Lear by 100.0% during the second quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company's stock valued at $43,000 after acquiring an additional 227 shares during the period. Institutional investors own 97.04% of the company's stock.

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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