Lear (NYSE:LEA) Price Target Lowered to $109.00 at UBS Group

Key Points

• UBS Group has lowered its price target for Lear Corporation (NYSE:LEA) from $116.00 to $109.00, maintaining a "neutral" rating on the stock.
• Despite the price reduction, the target suggests a potential upside of 10.23% from Lear's current price.
• Consistently, Lear has a consensus rating of "Hold" from analysts, with multiple firms varying in target price adjustments and ratings, indicating diverse market perspectives.

Lear (NYSE:LEA - Get Free Report) had its price target reduced by investment analysts at UBS Group from $116.00 to $109.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the auto parts company's stock. UBS Group's price objective indicates a potential upside of 10.23% from the company's current price.

LEA has been the subject of several other research reports. Bank of America boosted their target price on Lear from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Morgan Stanley dropped their target price on Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. The Goldman Sachs Group set a $88.00 target price on Lear and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup boosted their price target on Lear from $123.00 to $136.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Barclays boosted their price target on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lear presently has a consensus rating of "Hold" and an average price target of $113.00.

Lear Trading Down 0.5%

NYSE LEA traded down $0.51 during trading hours on Monday, hitting $98.88. 1,082,989 shares of the company were exchanged, compared to its average volume of 726,399. The stock has a 50-day moving average price of $96.63 and a 200 day moving average price of $92.90. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. Lear has a 52 week low of $73.85 and a 52 week high of $125.09. The stock has a market cap of $5.29 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.52 and a beta of 1.29.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.24. Lear had a return on equity of 13.94% and a net margin of 2.05%. The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. Analysts forecast that Lear will post 12.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the sale, the director owned 84 shares in the company, valued at $7,800.24. This represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Lear

Several hedge funds and other institutional investors have recently made changes to their positions in LEA. Schroder Investment Management Group purchased a new stake in shares of Lear during the 4th quarter valued at $90,700,000. Oldfield Partners LLP purchased a new stake in Lear during the 1st quarter worth approximately $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 purchasing an additional 498,918 shares during the last quarter. AQR Capital Management LLC grew its position 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 worth $49,625,000 after purchasing an additional 470,096 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 worth $614,782,000 after purchasing an additional 447,835 shares during the last quarter. Hedge funds and other 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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