Lear (NYSE:LEA) Now Covered by Analysts at Citigroup

Research analysts at Citigroup began coverage on shares of Lear (NYSE:LEA) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $123.00 price target on the auto parts company’s stock. Citigroup’s price objective would suggest a potential upside of 44.10% from the stock’s current price.

A number of other brokerages also recently weighed in on LEA. Barclays downgraded Lear from an “equal weight” rating to a “negative” rating in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price target on shares of Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Morgan Stanley cut their target price on shares of Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $84.00 price target (down previously from $117.00) on shares of Lear in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $113.91.

Lear Stock Up 4.1 %

LEA stock opened at $85.36 on Wednesday. The company has a market capitalization of $4.57 billion, a P/E ratio of 9.55, a PEG ratio of 0.49 and a beta of 1.34. The firm has a 50 day simple moving average of $89.23 and a 200-day simple moving average of $94.55. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear has a twelve month low of $73.85 and a twelve month high of $138.69.

Lear (NYSE:LEA) last issued its earnings results on Thursday, February 6th. The auto parts company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. On average, equities research analysts predict that Lear will post 12.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rod Lache bought 2,178 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the purchase, the director now directly owns 2,178 shares of the company’s stock, valued at $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Lear

Several large investors have recently made changes to their positions in LEA. Nisa Investment Advisors LLC boosted its holdings in Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after buying an additional 187 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 137 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 287 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Lear by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 120 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Lear by 51.1% during the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 166 shares during 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.