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

Lear (NYSE:LEA) had its target price lowered by Morgan Stanley from $145.00 to $135.00 in a report published on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the auto parts company’s stock.

A number of other research firms have also recently commented on LEA. TD Cowen reduced their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group reduced their target price on Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Bank of America decreased their target price on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wolfe Research started coverage on Lear in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.25.

Lear Stock Down 0.5 %

Shares of NYSE:LEA opened at $95.61 on Thursday. The business’s 50-day moving average is $103.66 and its 200-day moving average is $113.70. Lear has a 1 year low of $94.29 and a 1 year high of $147.11. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.53 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.87 EPS. Equities research analysts predict that Lear will post 12.19 earnings per share for the current year.

Hedge Funds Weigh In On Lear

Hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC lifted its position in shares of Lear by 7.3% during the third quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company’s stock valued at $842,054,000 after purchasing an additional 526,763 shares in the last quarter. Vanguard Group Inc. increased its stake in Lear by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after buying an additional 109,746 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Lear by 9.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after buying an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after buying an additional 504,091 shares during the last quarter. Finally, Greenhaven Associates Inc. grew its holdings in shares of Lear by 1.0% in the second quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after acquiring an additional 17,820 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

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.