Bank of America Boosts Lear (NYSE:LEA) Price Target to $115.00

Lear (NYSE:LEA) had its price target increased by Bank of America from $110.00 to $115.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. Bank of America‘s target price would indicate a potential upside of 26.82% from the stock’s previous close.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. TD Cowen cut Lear from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a report on Friday, March 7th. The Goldman Sachs Group set a $88.00 price target on Lear and gave the stock a “neutral” rating in a report on Tuesday, May 6th. UBS Group boosted their price target on Lear from $83.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price target on Lear from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Lear currently has an average rating of “Hold” and an average price target of $107.09.

Lear Stock Performance

Lear stock opened at $90.68 on Monday. Lear has a 12-month low of $73.85 and a 12-month high of $126.85. The company has a quick ratio of 1.03, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $87.68 and its two-hundred day moving average price is $92.00. The stock has a market cap of $4.85 billion, a PE ratio of 10.63, a P/E/G ratio of 0.51 and a beta of 1.29.

Lear (NYSE:LEA) last released its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.48. Lear had a return on equity of 14.53% and a net margin of 2.09%. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the previous year, the business posted $3.18 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts expect that Lear will post 12.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $92.86, for a total value of $110,224.82. Following the transaction, the director now directly owns 84 shares of the company’s stock, valued at approximately $7,800.24. The trade was a 93.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Lear

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Lear by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,657,389 shares of the auto parts company’s stock valued at $587,315,000 after buying an additional 165,494 shares during the period. Dimensional Fund Advisors LP lifted its stake in Lear by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,631,477 shares of the auto parts company’s stock valued at $232,145,000 after buying an additional 17,250 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Lear by 6.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,358,330 shares of the auto parts company’s stock valued at $208,052,000 after buying an additional 145,751 shares during the period. First Trust Advisors LP lifted its stake in Lear by 45.9% in the fourth quarter. First Trust Advisors LP now owns 1,133,186 shares of the auto parts company’s stock valued at $107,313,000 after buying an additional 356,760 shares during the period. Finally, Lyrical Asset Management LP lifted its stake in Lear by 0.3% in the first quarter. Lyrical Asset Management LP now owns 1,060,216 shares of the auto parts company’s stock valued at $93,532,000 after buying an additional 3,522 shares during the period. 97.04% of the stock is 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.