Lear (NYSE:LEA) Price Target Raised to $103.00

Lear (NYSE:LEA) had its price target boosted by analysts at Wells Fargo & Company from $99.00 to $103.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.86% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Cowen cut their price target on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Bank of America reduced their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their target price on shares of Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Barclays cut their target price on Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $132.55.

Lear Price Performance

NYSE:LEA opened at $94.62 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.61 and a beta of 1.42. The company has a 50-day moving average of $95.63 and a 200-day moving average of $103.17. Lear has a 52 week low of $86.28 and a 52 week high of $147.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33.

Lear (NYSE:LEA) last released its quarterly earnings data 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 return on equity of 14.68% and a net margin of 2.33%. As a group, equities research analysts anticipate that Lear will post 12.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lear

Several hedge funds have recently added to or reduced their stakes in LEA. Pzena Investment Management LLC increased its stake in Lear by 7.3% during the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company’s stock valued at $842,054,000 after purchasing an additional 526,763 shares in the last quarter. Pacer Advisors Inc. grew its stake in Lear by 24.3% in the 3rd quarter. Pacer Advisors Inc. now owns 1,264,090 shares of the auto parts company’s stock valued at $137,975,000 after purchasing an additional 247,312 shares during the period. Massachusetts Financial Services Co. MA raised its position in Lear by 13.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,713,661 shares of the auto parts company’s stock worth $187,046,000 after acquiring an additional 206,822 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Lear by 7,452.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 173,855 shares of the auto parts company’s stock valued at $16,129,000 after purchasing an additional 171,553 shares during the last quarter. Finally, ARGA Investment Management LP raised its position in shares of Lear by 25.7% in the fourth quarter. ARGA Investment Management LP now owns 595,615 shares of the auto parts company’s stock valued at $56,405,000 after purchasing an additional 121,734 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.