Morgan Stanley Has Lowered Expectations for Lear (NYSE:LEA) Stock Price

by · The Cerbat Gem

Lear (NYSE:LEA – Get Free Report) had its price target lowered by research analysts at Morgan Stanley from $145.00 to $135.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s target price suggests a potential upside of 41.24% from the stock’s previous close.

LEA has been the subject of a number of other reports. TD Cowen reduced their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wolfe Research started coverage on Lear in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com raised Lear from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays lowered shares of Lear from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $140.00 to $120.00 in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Lear presently has an average rating of “Moderate Buy” and a consensus price target of $140.25.

View Our Latest Report on LEA

Lear Price Performance

Lear stock opened at $95.59 on Thursday. The stock has a market cap of $5.19 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.55 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. The company’s 50 day moving average price is $103.66 and its two-hundred day moving average price is $113.86. Lear has a 52 week low of $94.29 and a 52 week high of $147.11.

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

Hedge Funds Weigh In On Lear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in shares of Lear during the 2nd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Lear during the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its stake in Lear by 70.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after buying an additional 110 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Lear in the 3rd quarter worth $34,000. Finally, Blue Trust Inc. raised its position in shares of Lear by 240.4% during the 3rd quarter. Blue Trust Inc. now owns 303 shares of the auto parts company’s stock valued at $35,000 after buying an additional 214 shares in the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

Lear Company Profile

(Get Free Report)

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.

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