Morgan Stanley Lowers Lear (NYSE:LEA) Price Target to $135.00

Lear (NYSE:LEA) had its target price cut by research analysts at Morgan Stanley from $145.00 to $135.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s price target suggests a potential upside of 37.11% from the company’s previous close.

LEA has been the subject of several other reports. 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 report on Tuesday, October 1st. Barclays cut shares of Lear from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $140.00 to $120.00 in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. Finally, StockNews.com raised Lear from a “hold” rating to a “buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.25.

Lear Stock Down 0.1 %

LEA stock traded down $0.12 during trading hours on Thursday, hitting $98.46. The company’s stock had a trading volume of 133,384 shares, compared to its average volume of 656,552. The stock has a 50 day moving average price of $104.31 and a two-hundred day moving average price of $114.28. Lear has a 12 month low of $94.29 and a 12 month high of $147.11. The company has a market capitalization of $5.35 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.54 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57.

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

Hedge Funds Weigh In On Lear

Large investors have recently added to or reduced their stakes in the company. Martingale Asset Management L P increased its position in shares of Lear by 1.1% during the third quarter. Martingale Asset Management L P now owns 30,513 shares of the auto parts company’s stock valued at $3,330,000 after purchasing an additional 322 shares during the period. Hantz Financial Services Inc. increased its holdings in Lear by 68.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 77,594 shares of the auto parts company’s stock valued at $8,469,000 after buying an additional 31,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Lear by 23.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,701 shares of the auto parts company’s stock valued at $1,386,000 after buying an additional 2,423 shares in the last quarter. FORA Capital LLC bought a new position in shares of Lear during the 3rd quarter worth about $1,698,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Lear by 405.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,356 shares of the auto parts company’s stock valued at $5,606,000 after acquiring an additional 41,197 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

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.