Lear (NYSE:LEA) Price Target Raised to $179.00

Lear (NYSE:LEA) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $177.00 to $179.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 34.05% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Benchmark upped their price target on Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Barclays upped their target price on Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.44.

Lear Price Performance

LEA opened at $133.53 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $138.88 and its 200 day simple moving average is $135.88. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.33 and a beta of 1.54. Lear has a 1 year low of $117.79 and a 1 year high of $157.90.

Lear (NYSE:LEA) last issued its earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.09). Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same quarter in the prior year, the business posted $2.81 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts predict that Lear will post 14.52 earnings per share for the current year.

Insider Buying and Selling at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were 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 directly owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Raymond E. Scott sold 10,652 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 13,627 shares in the company, valued at $1,810,483.22. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Partners II LLC increased its stake in Lear by 5.0% during the 3rd quarter. Advisor Partners II LLC now owns 1,921 shares of the auto parts company’s stock valued at $258,000 after purchasing an additional 91 shares in the last quarter. Signaturefd LLC increased its position in shares of Lear by 32.3% during the fourth quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Lear by 4.5% in the 3rd quarter. CIBC Asset Management Inc now owns 2,152 shares of the auto parts company’s stock worth $289,000 after acquiring an additional 93 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Lear by 4.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,975 shares of the auto parts company’s stock valued at $265,000 after acquiring an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Lear by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after purchasing an additional 100 shares during 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.