Wells Fargo & Company Issues Pessimistic Forecast for Lear (NYSE:LEA) Stock Price

Lear (NYSE:LEA) had its price target cut by investment analysts at Wells Fargo & Company from $112.00 to $107.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 3.92% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup reaffirmed a “neutral” rating on shares of Lear in a research note on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Lear from $133.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Evercore ISI upped their price objective on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a research note on Monday, November 24th. UBS Group decreased their target price on shares of Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $112.00 price target (down from $115.00) on shares of Lear in a research note on Monday. One analyst has rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $118.80.

Lear Trading Up 4.5%

NYSE LEA opened at $111.37 on Tuesday. The firm’s 50 day moving average price is $104.35 and its two-hundred day moving average price is $101.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35. Lear has a twelve month low of $73.85 and a twelve month high of $113.10. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.92 and a beta of 1.33.

Lear (NYSE:LEA) last issued its earnings results on Friday, October 31st. The auto parts company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. Lear had a return on equity of 13.44% and a net margin of 1.92%.The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the firm posted $2.89 earnings per share. Lear’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Lear will post 12.89 EPS for the current year.

Institutional Investors Weigh In On Lear

A number of large investors have recently added to or reduced their stakes in LEA. Hunter Perkins Capital Management LLC raised its position in shares of Lear by 0.8% in the second quarter. Hunter Perkins Capital Management LLC now owns 13,846 shares of the auto parts company’s stock valued at $1,315,000 after purchasing an additional 107 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Lear by 34.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after buying an additional 107 shares during the period. Allworth Financial LP grew its stake in Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after buying an additional 119 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Lear by 2.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,158 shares of the auto parts company’s stock valued at $585,000 after buying an additional 121 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in Lear by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,961 shares of the auto parts company’s stock worth $661,000 after acquiring an additional 176 shares during the period. 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.