UBS Group Trims Lear (NYSE:LEA) Target Price to $128.00

Lear (NYSE:LEAGet Free Report) had its price objective dropped by analysts at UBS Group from $136.00 to $128.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. UBS Group’s target price would indicate a potential upside of 11.80% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley upgraded shares of Lear from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $160.00 in a research report on Friday, May 10th. Barclays lowered their price objective on shares of Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their price target on shares of Lear from $139.00 to $132.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lear presently has a consensus rating of “Moderate Buy” and an average target price of $160.63.

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Lear Price Performance

LEA stock traded up $0.33 during trading on Wednesday, hitting $114.49. 73,438 shares of the stock traded hands, compared to its average volume of 645,823. Lear has a one year low of $112.26 and a one year high of $157.90. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.26 and a beta of 1.47. The company has a 50 day simple moving average of $122.07 and a 200 day simple moving average of $131.78. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55.

Lear (NYSE:LEAGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.14. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $6 billion. Lear had a net margin of 2.28% and a return on equity of 14.47%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.78 EPS. Equities analysts expect that Lear will post 14.21 EPS for the current fiscal year.

Insider Activity at Lear

In related news, Director Conrad L. Mallett, Jr. sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total transaction of $159,174.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Lear news, Director Conrad L. Mallett, Jr. sold 1,278 shares of Lear stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $124.55, for a total value of $159,174.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg C. Smith sold 2,392 shares of Lear stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $123.86, for a total transaction of $296,273.12. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Lear by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after buying an additional 109,746 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Lear by 7.6% in the fourth quarter. Franklin Resources Inc. now owns 2,179,175 shares of the auto parts company’s stock worth $307,721,000 after purchasing an additional 153,282 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Lear by 13.8% in the fourth quarter. Nordea Investment Management AB now owns 1,237,016 shares of the auto parts company’s stock worth $174,382,000 after purchasing an additional 149,958 shares in the last quarter. Lyrical Asset Management LP lifted its position in shares of Lear by 55.4% in the fourth quarter. Lyrical Asset Management LP now owns 1,067,888 shares of the auto parts company’s stock worth $150,796,000 after purchasing an additional 380,771 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Lear by 4.2% in the first quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock worth $148,216,000 after purchasing an additional 41,496 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

About Lear

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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.

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