Lear (NYSE:LEA) Price Target Lowered to $125.00 at Morgan Stanley

Lear (NYSE:LEA - Get Free Report) had its target price cut by Morgan Stanley from $135.00 to $125.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the auto parts company's stock. Morgan Stanley's price target suggests a potential upside of 31.54% from the stock's previous close.

A number of other research analysts have also commented on LEA. Wells Fargo & Company upped their target price on Lear from $99.00 to $103.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. StockNews.com raised shares of Lear from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Barclays lowered their target price on shares of Lear from $120.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Evercore ISI cut their price target on shares of Lear from $125.00 to $110.00 and set an "in-line" rating for the company in a research note on Monday, February 10th. Finally, UBS Group lowered their price objective on Lear from $104.00 to $102.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $126.09.

Remove Ads

Lear Stock Performance

Lear stock traded up $1.69 during mid-day trading on Monday, reaching $95.03. The company had a trading volume of 845,332 shares, compared to its average volume of 691,557. The company has a 50 day moving average of $94.90 and a 200-day moving average of $100.57. Lear has a 52 week low of $86.28 and a 52 week high of $147.11. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.49 and a beta of 1.44.

Lear (NYSE:LEA - Get Free Report) last released its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, sell-side analysts expect that Lear will post 12.89 EPS for the current fiscal year.

Institutional Trading of Lear

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Lear in the 4th quarter valued at about $2,329,000. Putney Financial Group LLC acquired a new position in Lear in the fourth quarter valued at approximately $58,000. Perennial Advisors LLC bought a new position in Lear in the fourth quarter valued at approximately $3,002,000. Public Employees Retirement System of Ohio grew its holdings in Lear by 11.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,622 shares of the auto parts company's stock worth $2,616,000 after acquiring an additional 2,874 shares during the period. Finally, Neo Ivy Capital Management raised its position in shares of Lear by 128.8% during the 4th quarter. Neo Ivy Capital Management now owns 39,528 shares of the auto parts company's stock valued at $3,743,000 after acquiring an additional 22,254 shares during the last quarter. Institutional investors and hedge funds own 97.04% of the company's stock.

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.