Lear (NYSE:LEA) Given New $85.00 Price Target at Barclays

Lear (NYSE:LEA) had its price objective reduced by stock analysts at Barclays from $115.00 to $85.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s target price points to a potential upside of 8.21% from the company’s current price.

Several other research analysts also recently commented on the company. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. UBS Group reduced their target price 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $84.00 price target (down previously from $117.00) on shares of Lear in a report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on Lear from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus target price of $114.27.

Lear Stock Up 1.5 %

Shares of Lear stock opened at $78.55 on Tuesday. Lear has a 12-month low of $73.85 and a 12-month high of $138.69. The stock has a market capitalization of $4.21 billion, a P/E ratio of 8.79, a PEG ratio of 0.49 and a beta of 1.34. 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 stock has a 50 day moving average price of $91.79 and a two-hundred day moving average price of $95.91.

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

Insider Buying and Selling

In other Lear news, Director Rod Lache purchased 2,178 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $91.80 per share, with a total value of $199,940.40. Following the completion of the purchase, the director now directly owns 2,178 shares in the company, valued at approximately $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Lear by 57.9% in the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company’s stock valued at $83,000 after purchasing an additional 344 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Lear by 34.9% during the first quarter. Harbor Capital Advisors Inc. now owns 39,622 shares of the auto parts company’s stock worth $3,495,000 after acquiring an additional 10,249 shares in the last quarter. Perennial Advisors LLC raised its holdings in shares of Lear by 7.3% during the first quarter. Perennial Advisors LLC now owns 34,006 shares of the auto parts company’s stock worth $3,000,000 after acquiring an additional 2,306 shares during the period. Rhumbline Advisers boosted its stake in Lear by 0.6% in the 1st quarter. Rhumbline Advisers now owns 153,953 shares of the auto parts company’s stock worth $13,582,000 after purchasing an additional 843 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Lear by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 3,709 shares of the auto parts company’s stock worth $351,000 after purchasing an additional 183 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.

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.