Lear (NYSE:LEA) Given New $110.00 Price Target at Evercore ISI

Lear (NYSE:LEA) had its price objective cut by investment analysts at Evercore ISI from $125.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “in-line” rating on the auto parts company’s stock. Evercore ISI’s target price suggests a potential upside of 13.78% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. TD Cowen reduced their price target on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. UBS Group dropped their price objective on Lear from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company increased their target price on Lear from $99.00 to $103.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Morgan Stanley cut their price objective on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Lear has an average rating of “Hold” and an average price target of $127.00.

Lear Price Performance

Shares of Lear stock traded up $0.55 during mid-day trading on Monday, reaching $96.68. 148,119 shares of the stock were exchanged, compared to its average volume of 688,197. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. Lear has a fifty-two week low of $86.28 and a fifty-two week high of $147.11. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a 50-day simple moving average of $95.59 and a 200 day simple moving average of $102.80.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, February 6th. The auto parts company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.44. Lear had a return on equity of 14.70% and a net margin of 2.17%. On average, sell-side analysts predict that Lear will post 13.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently made changes to their positions in LEA. Nisa Investment Advisors LLC increased its stake in shares of Lear by 187.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 187 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Lear by 68.2% during the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after buying an additional 137 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Lear in the third quarter valued at about $34,000. Blue Trust Inc. grew its position in Lear by 240.4% in the third quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 214 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Lear by 71.6% in the third quarter. Signaturefd LLC now owns 333 shares of the auto parts company’s stock worth $36,000 after acquiring an additional 139 shares during the last quarter. 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.