Wells Fargo & Company Lowers Lear (NYSE:LEA) Price Target to $99.00

Lear (NYSE:LEA) had its price objective trimmed by Wells Fargo & Company from $106.00 to $99.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Barclays cut Lear from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Lear from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. TD Cowen reduced their target price on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.67.

Lear Stock Performance

Shares of LEA opened at $93.01 on Monday. Lear has a 1 year low of $92.14 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The stock’s fifty day moving average price is $99.37 and its two-hundred day moving average price is $109.02. The firm has a market cap of $5.05 billion, a PE ratio of 9.78, a PEG ratio of 0.60 and a beta of 1.45.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.87 EPS. On average, equities research analysts forecast that Lear will post 12.01 EPS for the current year.

Lear Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.31%. Lear’s payout ratio is 32.39%.

Institutional Inflows and Outflows

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