Wells Fargo & Company Increases Lear (NYSE:LEA) Price Target to $138.00

Key Points

• Wells Fargo raised Lear’s price target from $137 to $138 while maintaining an “equal weight” rating, implying 7.23% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $145.38; targets from other firms range from $140 to $179.
• Lear reported quarterly EPS of $4.28, beating estimates of $3.98, while revenue rose 3% year over year to $6.21 billion. Shares fell 1.5% to $128.70, and insiders have sold more than $8.4 million of stock over the past 90 days.

Lear (NYSE:LEA - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $137.00 to $138.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price objective suggests a potential upside of 7.23% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of Lear from $177.00 to $179.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. The Goldman Sachs Group reissued a "neutral" rating and set a $140.00 price target on shares of Lear in a research report on Saturday. Weiss Ratings raised shares of Lear from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Barclays increased their price objective on shares of Lear from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Lear from $153.00 to $159.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $145.38.

Lear Stock Down 1.5%

Shares of NYSE:LEA traded down $1.94 during trading on Monday, hitting $128.70. The company's stock had a trading volume of 94,328 shares, compared to its average volume of 600,679. The company has a market capitalization of $6.45 billion, a PE ratio of 11.92, a PEG ratio of 0.63 and a beta of 1.25. Lear has a fifty-two week low of $92.10 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31. The stock's 50-day moving average price is $140.07 and its two-hundred day moving average price is $131.16.

Lear (NYSE:LEA - Get Free Report) last announced its earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.98 by $0.30. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.15 billion. Lear had a return on equity of 14.18% and a net margin of 2.35%.Lear's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 EPS. As a group, sell-side analysts expect that Lear will post 14.81 EPS for the current year.

Insider Buying and Selling at Lear

In related news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the transaction, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. The trade was a 27.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total transaction of $26,854.60. Following the completion of the transaction, the director directly owned 1,683 shares of the company's stock, valued at $237,875.22. This represents a 10.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is owned by corporate insiders.

Institutional Trading of Lear

Hedge funds and other institutional investors have recently modified their holdings of the company. Life Cycle Investment Partners Ltd bought a new stake in shares of Lear in the 4th quarter valued at approximately $22,539,000. Impax Asset Management Group plc grew its position in Lear by 33.1% in the fourth quarter. Impax Asset Management Group plc now owns 17,264 shares of the auto parts company's stock worth $1,978,000 after acquiring an additional 4,293 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in shares of Lear by 154.6% during the 4th quarter. Convergence Investment Partners LLC now owns 24,720 shares of the auto parts company's stock valued at $2,833,000 after purchasing an additional 15,010 shares in the last quarter. Leuthold Group LLC lifted its stake in shares of Lear by 41.5% in the 4th quarter. Leuthold Group LLC now owns 47,513 shares of the auto parts company's stock valued at $5,445,000 after purchasing an additional 13,937 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Lear by 5,987.3% during the first quarter. Fifth Third Bancorp now owns 23,436 shares of the auto parts company's stock worth $2,838,000 after buying an additional 23,051 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

About Lear

Lear Corporation NYSE: LEA is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

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