Lear (NYSE:LEA) Price Target Raised to $113.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Lear Corporation from $111.00 to $113.00, indicating a potential upside of 11.80% from the current stock price.
• Despite the price increase from Wells Fargo, other analysts have issued mixed ratings, with Bank of America reducing their target to $123.00 and UBS cutting their estimate to $109.00, maintaining a "neutral" stance.
• Shares of Lear Corporation experienced a 0.6% decline, trading at $101.08, with a total market capitalization of $5.38 billion and a PE ratio of 11.77.

Lear (NYSE:LEA - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $111.00 to $113.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price target indicates a potential upside of 11.80% from the stock's current price.

LEA has been the topic of several other reports. Bank of America cut shares of Lear from a "buy" rating to a "neutral" rating and lowered their price target for the company from $135.00 to $123.00 in a report on Wednesday, September 10th. UBS Group reduced their price objective on shares of Lear from $116.00 to $109.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Wall Street Zen cut shares of Lear from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Citigroup boosted their target price on shares of Lear from $123.00 to $136.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Barclays boosted their price objective on Lear from $100.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.90.

Lear Stock Down 0.6%

Shares of Lear stock traded down $0.60 during trading hours on Thursday, hitting $101.08. 75,781 shares of the company's stock traded hands, compared to its average volume of 700,341. The company has a market cap of $5.38 billion, a PE ratio of 11.77, a PEG ratio of 0.80 and a beta of 1.34. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $103.93 and a 200-day simple moving average of $95.44. Lear has a twelve month low of $73.85 and a twelve month high of $115.47.

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

Insider Buying and Selling

In other Lear news, CEO Raymond E. Scott sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $96.77, for a total value of $483,850.00. Following the completion of the sale, the chief executive officer directly owned 38,729 shares in the company, valued at $3,747,805.33. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jason M. Cardew sold 5,000 shares of the company'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 transaction, the chief financial officer owned 20,244 shares in the company, valued at $1,993,426.68. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Lear by 1,384.2% in the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company's stock worth $27,000 after purchasing an additional 263 shares in the last quarter. WealthCollab LLC purchased a new stake in shares of Lear in the second quarter worth $28,000. WPG Advisers LLC bought a new position in Lear in the 1st quarter worth about $39,000. Bessemer Group Inc. increased its stake in Lear by 100.0% during the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company's stock valued at $43,000 after purchasing an additional 227 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Lear by 610.0% in the second quarter. Parkside Financial Bank & Trust now owns 639 shares of the auto parts company's stock worth $61,000 after buying an additional 549 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

About Lear

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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