Barclays Forecasts Strong Price Appreciation for Lear (NYSE:LEA) Stock

Lear (NYSE:LEA) had its target price hoisted by stock analysts at Barclays from $120.00 to $125.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s price objective would suggest a potential upside of 14.13% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Lear from $108.00 to $112.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. TD Cowen boosted their target price on Lear from $115.00 to $117.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Wall Street Zen downgraded Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Lear has an average rating of “Hold” and an average price target of $118.60.

Lear Stock Down 0.6%

LEA traded down $0.61 during trading on Monday, reaching $109.52. 337,194 shares of the stock traded hands, compared to its average volume of 694,704. The stock’s 50-day simple moving average is $104.06 and its two-hundred day simple moving average is $99.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.07. Lear has a fifty-two week low of $73.85 and a fifty-two week high of $113.10. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.63 billion. Lear had a return on equity of 13.94% and a net margin of 2.05%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $2.89 EPS. Lear has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Lear will post 12.89 EPS for the current year.

Hedge Funds Weigh In On Lear

Hedge funds have recently made changes to their positions in the business. Jump Financial LLC bought a new stake in shares of Lear during the first quarter worth approximately $1,463,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lear during the 1st quarter worth approximately $725,000. Voya Investment Management LLC boosted its stake in Lear by 34.4% in the 1st quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock valued at $4,031,000 after purchasing an additional 11,696 shares during the period. Eagle Global Advisors LLC increased its position in Lear by 11.5% during the 1st quarter. Eagle Global Advisors LLC now owns 75,531 shares of the auto parts company’s stock worth $6,663,000 after buying an additional 7,800 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Lear by 9.8% during the first quarter. Comerica Bank now owns 40,086 shares of the auto parts company’s stock worth $3,536,000 after buying an additional 3,575 shares in the last quarter. 97.04% of the stock is owned by 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.