UBS Group Cuts Lear (NYSE:LEA) Price Target to $83.00

Lear (NYSE:LEA) had its target price reduced by investment analysts at UBS Group from $102.00 to $83.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price objective would indicate a potential upside of 8.74% from the stock’s previous close.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Lear from $147.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Evercore ISI reduced their price objective on Lear from $125.00 to $110.00 and set an “in-line” rating on the stock in a research report on Monday, February 10th. Cowen downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Barclays cut their target price on shares of Lear from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus price target of $117.00.

Lear Stock Performance

Lear stock traded down $6.54 during midday trading on Thursday, reaching $76.33. The stock had a trading volume of 323,595 shares, compared to its average volume of 739,311. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $4.09 billion, a PE ratio of 8.47, a P/E/G ratio of 0.49 and a beta of 1.34. Lear has a 12 month low of $73.85 and a 12 month high of $141.43. The firm’s 50-day moving average price is $92.70 and its 200 day moving average price is $96.69.

Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, beating 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%. As a group, research analysts predict that Lear will post 12.89 earnings per share for the current fiscal year.

Insider Activity at Lear

In other news, Director Rod Lache purchased 2,178 shares of the stock in a transaction dated 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 of the company’s stock, valued at $199,940.40. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Lear

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group boosted its position in shares of Lear by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 120 shares during the period. Lakewood Asset Management LLC grew its position in Lear by 1.3% in the fourth quarter. Lakewood Asset Management LLC now owns 9,957 shares of the auto parts company’s stock worth $943,000 after acquiring an additional 126 shares in the last quarter. Addison Advisors LLC increased its stake 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 last quarter. Wellington Management Group LLP lifted its stake in shares of Lear by 4.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,526 shares of the auto parts company’s stock valued at $385,000 after purchasing an additional 143 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Lear by 51.1% in 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 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.