Lear (NYSE:LEA) Price Target Raised to $111.00

Key Points

• Wells Fargo & Company raised its price target on Lear's stock from $102.00 to $111.00, maintaining an "equal weight" rating, which suggests a potential downside of about 1.43% from its previous close.
• Lear's recent earnings report showed a profit of $3.47 per share, exceeding analysts' estimates of $3.23 and reflecting a modest revenue increase of 0.3% year-over-year.
• Insider transactions revealed that CEO Raymond E. Scott and CFO Jason M. Cardew sold 5,000 shares each, indicating a significant decrease in their positions within the company.

Lear (NYSE:LEA - Get Free Report) had its price objective increased by stock analysts at Wells Fargo & Company from $102.00 to $111.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price objective would indicate a potential downside of 1.43% from the company's previous close.

A number of other research firms also recently weighed in on LEA. UBS Group reduced their target price on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Barclays raised their price objective on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Morgan Stanley cut their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Bank of America raised their price objective on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Citigroup raised their price objective on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $113.73.

Lear Stock Up 1.4%

Lear stock opened at $112.61 on Tuesday. Lear has a twelve month low of $73.85 and a twelve month high of $115.47. The firm has a 50 day moving average price of $103.74 and a 200-day moving average price of $94.54. The company has a market capitalization of $5.99 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.67 and a beta of 1.33. 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 (NYSE:LEA - Get Free Report) last released its earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share 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 period in the prior year, the firm earned $3.60 EPS. The company's revenue was up .3% compared to the same quarter last year. Lear has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Lear will post 12.89 EPS for the current year.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total transaction of $483,850.00. Following the completion of the sale, the chief executive officer directly owned 38,729 shares of the company's stock, valued at approximately $3,747,805.33. The trade was a 11.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.47, for a total transaction of $492,350.00. Following the completion of the transaction, the chief financial officer 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 11,187 shares of company stock valued at $1,086,425. Insiders own 0.91% of the company's stock.

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently modified their holdings of LEA. Orion Porfolio Solutions LLC boosted its stake in Lear by 4.0% during the second quarter. Orion Porfolio Solutions LLC now owns 6,307 shares of the auto parts company's stock worth $599,000 after acquiring an additional 242 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Lear during the second quarter worth about $4,174,000. WealthCollab LLC bought a new stake in Lear during the second quarter worth about $28,000. State of Tennessee Department of Treasury boosted its stake in Lear by 8.6% during the second quarter. State of Tennessee Department of Treasury now owns 24,513 shares of the auto parts company's stock worth $2,328,000 after acquiring an additional 1,949 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Lear by 26.5% during the second quarter. Captrust Financial Advisors now owns 6,804 shares of the auto parts company's stock worth $646,000 after acquiring an additional 1,426 shares in 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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