Lear's (LEA) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reissued a "hold (c)" rating for Lear Corporation (NYSE: LEA), reflecting ongoing caution about the stock's performance.
• Multiple analysts have varying price targets for Lear, with Barclays setting it at $120 and Wells Fargo lowering it to $108, indicating a mixed outlook.
• Lear reported $3.47 earnings per share for the last quarter, exceeding expectations and showing a slight revenue increase of 0.3% year-over-year.

Lear (NYSE:LEA - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group set a $104.00 price objective on shares of Lear in a research note on Monday, September 29th. Wells Fargo & Company cut their price target on shares of Lear from $113.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Friday, October 3rd. Barclays increased their price target on shares of Lear from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Bank of America downgraded shares of Lear from a "buy" rating to a "neutral" rating and cut their price target for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. Finally, UBS Group cut their price target on shares of Lear from $109.00 to $106.00 and set a "neutral" rating on the stock in a research note on Monday. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $113.70.

Lear Stock Performance

Shares of LEA opened at $101.01 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.77 and a beta of 1.32. The company's 50 day simple moving average is $103.67 and its 200 day simple moving average is $95.83. Lear has a 1 year low of $73.85 and a 1 year high of $113.10.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.89 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Lear has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Lear will post 12.89 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Lear

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Lear by 1,384.2% during the 2nd 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 in the last quarter. WealthCollab LLC acquired a new stake in Lear during the 2nd quarter valued at $28,000. WPG Advisers LLC acquired a new stake in Lear during the 1st quarter valued at $39,000. Bessemer Group Inc. grew its holdings in Lear by 100.0% during the 2nd quarter. Bessemer Group Inc. now owns 454 shares of the auto parts company's stock worth $43,000 after acquiring an additional 227 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Lear by 610.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 639 shares of the auto parts company's stock worth $61,000 after acquiring an additional 549 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

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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