Lear (NYSE:LEA) Given New $135.00 Price Target at Credit Suisse Group

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Lear (NYSE:LEA) had its target price hoisted by research analysts at Credit Suisse Group from $130.00 to $135.00 in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 0.62% from the company’s current price.

Several other equities analysts have also issued reports on the company. ValuEngine raised Lear from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird lowered Lear from an “outperform” rating to a “neutral” rating and set a $155.00 target price on the stock. in a research note on Friday, October 25th. KeyCorp increased their target price on Lear from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada raised Lear from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $129.00 to $161.00 in a research report on Friday, December 20th. Finally, Barclays reaffirmed a “hold” rating and issued a $136.00 price target on shares of Lear in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Lear has a consensus rating of “Hold” and a consensus price target of $155.67.

LEA traded down $2.33 during mid-day trading on Friday, hitting $134.17. 176 shares of the stock were exchanged, compared to its average volume of 453,147. The firm’s fifty day moving average is $136.00 and its two-hundred day moving average is $124.32. Lear has a 1-year low of $105.10 and a 1-year high of $160.00. The company has a current ratio of 1.35, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market cap of $8.28 billion, a PE ratio of 9.83, a PEG ratio of 3.71 and a beta of 1.49.

Lear (NYSE:LEA) last posted its earnings results on Friday, October 25th. The auto parts company reported $3.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.14 by $0.40. Lear had a return on equity of 22.07% and a net margin of 4.21%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the company earned $4.09 EPS. Lear’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts anticipate that Lear will post 13.48 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in LEA. Invesco Ltd. grew its stake in Lear by 482.8% during the 2nd quarter. Invesco Ltd. now owns 414,921 shares of the auto parts company’s stock worth $57,786,000 after buying an additional 343,724 shares during the last quarter. Man Group plc lifted its position in Lear by 105.7% during the 2nd quarter. Man Group plc now owns 62,962 shares of the auto parts company’s stock worth $8,769,000 after acquiring an additional 32,357 shares during the period. Morgan Stanley lifted its position in Lear by 42.4% during the 2nd quarter. Morgan Stanley now owns 165,088 shares of the auto parts company’s stock worth $22,992,000 after acquiring an additional 49,195 shares during the period. Victory Capital Management Inc. lifted its position in Lear by 30.7% during the 2nd quarter. Victory Capital Management Inc. now owns 24,583 shares of the auto parts company’s stock worth $3,424,000 after acquiring an additional 5,770 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Lear by 2.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,545 shares of the auto parts company’s stock worth $4,950,000 after acquiring an additional 853 shares during the period. Hedge funds and other institutional investors own 88.44% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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