Lear (NYSE:LEA) Given New $135.00 Price Target at Morgan Stanley

Lear (NYSE:LEA) had its target price cut by Morgan Stanley from $145.00 to $135.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

A number of other brokerages have also recently issued reports on LEA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $132.00 price objective on shares of Lear in a report on Tuesday, September 10th. Wolfe Research initiated coverage on Lear in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Finally, Bank of America cut their price objective on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.25.

Lear Price Performance

Shares of LEA stock traded down $0.10 during trading hours on Thursday, hitting $95.96. The company had a trading volume of 281,871 shares, compared to its average volume of 658,012. Lear has a 12 month low of $94.29 and a 12 month high of $147.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.33. The firm’s fifty day moving average is $103.95 and its 200 day moving average is $114.15. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.55 and a beta of 1.46.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 EPS. On average, sell-side analysts predict that Lear will post 12.22 EPS for the current fiscal year.

Institutional Trading of Lear

Institutional investors have recently made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Lear during the 1st quarter valued at about $1,984,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Lear by 35.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,995 shares of the auto parts company’s stock valued at $7,953,000 after purchasing an additional 14,305 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Lear in the 2nd quarter valued at approximately $530,000. Shell Asset Management Co. increased its position in shares of Lear by 73.6% during the 1st quarter. Shell Asset Management Co. now owns 11,754 shares of the auto parts company’s stock valued at $1,703,000 after purchasing an additional 4,984 shares during the last quarter. Finally, Boston Partners raised its holdings in Lear by 4.2% during the 1st quarter. Boston Partners now owns 1,023,165 shares of the auto parts company’s stock valued at $148,216,000 after buying an additional 41,496 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

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.