StockNews.com Downgrades Lear (NYSE:LEA) to Hold

Lear (NYSE:LEA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other research analysts also recently commented on the stock. Benchmark increased their price objective on shares of Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company increased their price objective on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday. Barclays increased their price objective on shares of Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley increased their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.44.

Lear Price Performance

Lear stock opened at $133.53 on Monday. The firm has a fifty day moving average of $138.88 and a 200-day moving average of $135.88. The firm has a market capitalization of $7.60 billion, a P/E ratio of 13.79, a PEG ratio of 0.33 and a beta of 1.54. Lear has a 52-week low of $117.79 and a 52-week high of $157.90. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54.

Lear (NYSE:LEA) last released its quarterly earnings results on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. Lear’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 earnings per share. As a group, analysts predict that Lear will post 14.52 EPS for the current year.

Insider Transactions at Lear

In other news, CEO Raymond E. Scott sold 10,652 shares of Lear stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $132.86, for a total value of $1,415,224.72. Following the transaction, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jason M. Cardew sold 2,750 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now directly owns 17,506 shares in the company, valued at $2,465,019.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the sale, the chief executive officer now owns 13,627 shares of the company’s stock, valued at $1,810,483.22. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Lear

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Lear in the 1st quarter valued at $32,000. Signaturefd LLC raised its stake in shares of Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after buying an additional 91 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Lear in the 4th quarter valued at $56,000. Covestor Ltd raised its stake in shares of Lear by 131.9% in the 3rd quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after buying an additional 252 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Lear in the 4th quarter worth about $75,000. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.