Lear (NYSE:LEA) Downgraded to Neutral Rating by BNP Paribas Exane

Lear (NYSE:LEA) was downgraded by equities researchers at BNP Paribas Exane from an “outperform” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports.

A number of other research firms have also recently commented on LEA. Wells Fargo & Company lifted their price target on shares of Lear from $133.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Citigroup raised their target price on Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Barclays upped their price target on Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $140.00 price target on shares of Lear in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $145.31.

Lear Price Performance

LEA opened at $130.63 on Monday. Lear has a fifty-two week low of $91.67 and a fifty-two week high of $150.33. The firm has a 50-day moving average of $140.07 and a 200 day moving average of $131.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31. The firm has a market cap of $6.54 billion, a P/E ratio of 12.17, a PEG ratio of 0.63 and a beta of 1.25.

Lear (NYSE:LEA) last released its earnings results on Friday, July 31st. The auto parts company reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the previous year, the company earned $3.06 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts expect that Lear will post 14.81 EPS for the current year.

Insider Buying and Selling at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $147.50, for a total transaction of $737,500.00. Following the sale, the chief financial officer owned 13,241 shares of the company’s stock, valued at $1,953,047.50. The trade was a 27.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the sale, the director owned 1,683 shares in the company, valued at approximately $237,875.22. This represents a 10.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Lear

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Lear by 7.2% in the second quarter. GAMMA Investing LLC now owns 2,328 shares of the auto parts company’s stock worth $312,000 after buying an additional 157 shares in the last quarter. Versant Capital Management Inc grew its stake in Lear by 3.8% during the second quarter. Versant Capital Management Inc now owns 2,260 shares of the auto parts company’s stock valued at $303,000 after acquiring an additional 82 shares in the last quarter. CX Institutional increased its holdings in Lear by 6.6% during the 2nd quarter. CX Institutional now owns 2,988 shares of the auto parts company’s stock worth $401,000 after acquiring an additional 184 shares during the period. Edgestream Partners L.P. bought a new stake in Lear during the 1st quarter worth approximately $5,658,000. Finally, Bull Harbor Capital LLC purchased a new stake in Lear in the 1st quarter worth approximately $238,000. 97.04% of the stock is currently owned by institutional investors.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.