Barclays Has Lowered Expectations for Lear (NYSE:LEA) Stock Price

Lear (NYSE:LEA) had its price target lowered by equities researchers at Barclays from $120.00 to $115.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s price objective points to a potential upside of 21.52% from the company’s current price.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of Lear from $106.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. TD Cowen decreased their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley dropped their price target on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $133.73.

Lear Price Performance

Shares of NYSE:LEA opened at $94.63 on Wednesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 0.50 and a beta of 1.43. The firm has a fifty day moving average price of $95.93 and a 200 day moving average price of $104.83. Lear has a fifty-two week low of $90.03 and a fifty-two week high of $147.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 EPS. As a group, sell-side analysts expect that Lear will post 12.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lear

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in shares of Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 187 shares during the period. EverSource Wealth Advisors LLC boosted its position in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock valued at $32,000 after buying an additional 110 shares during the period. Brooklyn Investment Group bought a new position in Lear in the 3rd quarter worth about $34,000. Blue Trust Inc. increased its position in shares of Lear by 240.4% during the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock worth $35,000 after acquiring an additional 214 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Lear by 71.6% during the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock valued at $36,000 after acquiring an additional 139 shares in the last quarter. 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.