Barclays Forecasts Strong Price Appreciation for Lear (NYSE:LEA) Stock

Lear (NYSE:LEA) had its target price increased by research analysts at Barclays from $150.00 to $155.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s target price indicates a potential upside of 13.83% from the company’s previous close.

Several other brokerages also recently weighed in on LEA. Wells Fargo & Company upped their target price on Lear from $133.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Citigroup raised their target price on Lear from $177.00 to $179.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised Lear from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft set a $133.00 price target on Lear in a report on Monday, May 4th. Finally, Morgan Stanley set a $130.00 price objective on shares of Lear in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $144.23.

Lear Stock Up 1.0%

Shares of NYSE:LEA opened at $136.17 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.05. The firm has a market capitalization of $6.82 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25. The firm’s 50-day moving average is $138.00 and its two-hundred day moving average is $128.69. Lear has a 1 year low of $91.67 and a 1 year high of $150.33.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the company earned $3.12 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Analysts predict that Lear will post 14.64 EPS for the current year.

Insiders Place Their Bets

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the sale, the chief financial officer directly owned 13,241 shares in the company, valued at $1,953,047.50. The trade was a 27.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $141.34, for a total value of $26,854.60. Following the completion of the transaction, the director directly owned 1,683 shares in the company, valued at approximately $237,875.22. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 62,026 shares of company stock worth $8,498,248. 1.02% of the stock is owned by insiders.

Institutional Trading of Lear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in Lear during the 4th quarter valued at $25,000. WealthCollab LLC acquired a new position in Lear during the 2nd quarter worth $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Lear in the 4th quarter worth about $30,000. Allworth Financial LP increased its position in shares of Lear by 62.6% in the 3rd quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Lear by 942.3% in the 4th quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: JPMorgan raised Lear’s price target to $159 from $153 and kept an overweight rating, implying more upside than previously expected. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Barclays also increased its price target to $155 from $150, while maintaining an equal weight view, adding to the bullish analyst momentum around Lear. American Banking News report on Barclays price target increase
• Neutral Sentiment: A separate article about the stage production Lear is unrelated to Lear Corporation’s business and is unlikely to affect the stock. The Guardian article

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.