Lear (NYSE:LEA) Price Target Cut to $85.00 by Analysts at Barclays

Lear (NYSE:LEA) had its price objective reduced by Barclays from $115.00 to $85.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $84.00 target price (down previously from $117.00) on shares of Lear in a research report on Thursday, April 10th. Cowen lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Evercore ISI lowered their price target on shares of Lear from $125.00 to $110.00 and set an “in-line” rating on the stock in a research note on Monday, February 10th. UBS Group reduced their price objective on shares of Lear from $102.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company lifted their target price on Lear from $99.00 to $103.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $114.27.

Lear Price Performance

NYSE LEA opened at $78.30 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear has a 52-week low of $73.85 and a 52-week high of $138.69. The business has a 50 day simple moving average of $91.47 and a 200 day simple moving average of $95.79. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.49 and a beta of 1.34.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a net margin of 2.17% and a return on equity of 14.70%. Analysts anticipate that Lear will post 12.89 earnings per share for the current fiscal year.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Thursday, March 6th. Lear’s payout ratio is presently 34.45%.

Insider Buying and Selling at Lear

In related news, Director Rod Lache purchased 2,178 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $91.80 per share, with a total value of $199,940.40. Following the acquisition, the director now directly owns 2,178 shares in the company, valued at $199,940.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after buying an additional 187 shares in the last quarter. Addison Advisors LLC increased its position in Lear by 68.2% during the fourth quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 137 shares during the period. UMB Bank n.a. raised its stake in Lear by 233.3% in the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 287 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Lear by 39.1% in the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 120 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Lear by 51.1% during the 4th quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

About Lear

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.