TD Cowen Trims Lear (NYSE:LEA) Target Price to $125.00

Lear (NYSE:LEA) had its price target reduced by TD Cowen from $142.00 to $125.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

LEA has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. The Goldman Sachs Group lowered 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. Wells Fargo & Company cut their price target on Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday. Barclays lowered their target price on shares of Lear from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Finally, Bank of America lowered their price objective on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.75.

Lear Price Performance

Lear stock opened at $98.65 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.04. The stock’s fifty day moving average price is $109.02 and its two-hundred day moving average price is $117.45. Lear has a one year low of $97.51 and a one year high of $147.11.

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.32. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.52 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. Lear’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.87 earnings per share. As a group, research analysts expect that Lear will post 12.27 EPS for the current fiscal year.

Lear Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Wednesday, September 4th. Lear’s dividend payout ratio is currently 33.59%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LEA. Pzena Investment Management LLC lifted its stake in Lear by 15.2% during the 2nd quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock valued at $820,929,000 after acquiring an additional 946,109 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lear by 1.9% during the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock worth $872,640,000 after purchasing an additional 109,746 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Lear by 9.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock worth $314,620,000 after purchasing an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after buying an additional 504,091 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its position in shares of Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock worth $207,506,000 after buying an additional 17,820 shares in the last quarter. Hedge funds and other institutional investors 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.