Lear (NYSE:LEA) Cut to Hold at StockNews.com

StockNews.com lowered shares of Lear (NYSE:LEA - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. TD Cowen dropped their price target 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. Wells Fargo & Company lowered their target price on shares of Lear from $114.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Barclays lowered Lear from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $140.00 to $120.00 in a report on Wednesday, October 30th. Finally, Morgan Stanley cut their target price on shares of Lear from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $140.25.

Lear Stock Up 0.6 %

Shares of Lear stock traded up $0.59 during midday trading on Wednesday, hitting $93.54. The company's stock had a trading volume of 581,185 shares, compared to its average volume of 661,429. The firm has a market capitalization of $5.08 billion, a P/E ratio of 9.84, a PEG ratio of 0.53 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $102.93 and a 200-day simple moving average of $113.10. Lear has a 1-year low of $92.14 and a 1-year high of $147.11.

Lear (NYSE:LEA - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion for 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%. Lear's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.87 earnings per share. As a group, sell-side analysts expect that Lear will post 12.19 earnings per share for the current year.

Institutional Investors Weigh In On Lear

A number of large investors have recently bought and sold shares of LEA. Altshuler Shaham Ltd acquired a new stake in shares of Lear in the second quarter valued at $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 110 shares during the last quarter. Brooklyn Investment Group bought a new position in Lear in the 3rd quarter worth approximately $34,000. Blue Trust Inc. boosted its position in Lear by 240.4% in the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company's stock valued at $35,000 after buying an additional 214 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Lear by 71.6% in the 3rd quarter. Signaturefd LLC now owns 333 shares of the auto parts company's stock valued at $36,000 after buying an additional 139 shares during the period. 97.04% of the stock is currently owned by institutional investors.

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.