Barclays Trims Lear (NYSE:LEA) Target Price to $165.00

Lear (NYSE:LEA - Get Free Report) had its target price lowered by investment analysts at Barclays from $175.00 to $165.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the auto parts company's stock. Barclays's price objective would suggest a potential upside of 30.35% from the stock's previous close.

Several other analysts have also recently issued reports on LEA. Wells Fargo & Company upped their price objective on Lear from $134.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday. Morgan Stanley increased their price objective on Lear from $140.00 to $150.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. UBS Group decreased their price objective on Lear from $146.00 to $142.00 and set a "neutral" rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Lear from $177.00 to $179.00 and gave the company an "overweight" rating in a research note on Monday, April 22nd. Finally, StockNews.com raised Lear from a "hold" rating to a "buy" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Lear Stock Up 1.8 %

Shares of NYSE:LEA traded up $2.21 during trading on Thursday, hitting $126.58. The company's stock had a trading volume of 778,347 shares, compared to its average volume of 572,075. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. Lear has a fifty-two week low of $117.79 and a fifty-two week high of $157.90. The stock's 50-day moving average price is $138.40 and its two-hundred day moving average price is $135.69. The company has a market capitalization of $7.21 billion, a PE ratio of 13.79, a PEG ratio of 0.31 and a beta of 1.55.

Lear (NYSE:LEA - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.04 by $0.14. Lear had a return on equity of 14.47% and a net margin of 2.28%. The business had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $6 billion. During the same quarter in the previous year, the firm posted $2.78 earnings per share. The company's revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Lear will post 14.51 EPS for the current year.

Insider Activity

In other news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at $2,465,019.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the completion of the sale, the chief financial officer now directly owns 17,506 shares in the company, valued at $2,465,019.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total value of $1,415,224.72. Following the sale, the chief executive officer now owns 13,627 shares of the company's stock, valued at $1,810,483.22. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Lear

Several hedge funds and other institutional investors have recently modified their holdings of LEA. Nordea Investment Management AB increased its position in Lear by 13.8% during the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company's stock worth $174,382,000 after buying an additional 149,958 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Lear during the fourth quarter worth about $1,356,000. Louisiana State Employees Retirement System acquired a new stake in Lear during the fourth quarter worth about $2,316,000. abrdn plc grew its position in Lear by 90.1% during the fourth quarter. abrdn plc now owns 22,432 shares of the auto parts company's stock worth $3,168,000 after buying an additional 10,631 shares in the last quarter. Finally, Lakewood Asset Management LLC grew its position in Lear by 7.2% during the fourth quarter. Lakewood Asset Management LLC now owns 9,995 shares of the auto parts company's stock worth $1,411,000 after buying an additional 675 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other 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.