Lear (NYSE:LEA) Given New $135.00 Price Target at Morgan Stanley

Lear (NYSE:LEA) had its price target trimmed by Morgan Stanley from $145.00 to $135.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

Several other research firms have also weighed in on LEA. Wolfe Research began coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company cut their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $140.00 to $120.00 in a research note on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.25.

Lear Stock Down 0.5 %

Shares of Lear stock opened at $95.61 on Thursday. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear has a twelve month low of $94.29 and a twelve month high of $147.11. The company has a fifty day moving average price of $103.66 and a 200 day moving average price of $113.78.

Lear (NYSE:LEA) last announced its earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the company earned $2.87 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts forecast that Lear will post 12.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LEA. EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 110 shares in the last quarter. Quarry LP increased its holdings in shares of Lear by 13.8% in the third quarter. Quarry LP now owns 1,105 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 134 shares during the last quarter. Wahed Invest LLC grew its position in Lear by 14.0% in the first quarter. Wahed Invest LLC now owns 1,125 shares of the auto parts company’s stock worth $163,000 after acquiring an additional 138 shares in the last quarter. Signaturefd LLC lifted its stake in Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 139 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Lear by 4.2% during the third quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other 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.