Morgan Stanley Cuts Lear (NYSE:LEA) Price Target to $135.00

Lear (NYSE:LEA) had its target price trimmed by Morgan Stanley from $145.00 to $135.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

LEA has been the subject of several other reports. Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $140.00 to $120.00 in a research report on Wednesday, October 30th. TD Cowen dropped their price objective on Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Lear from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. The Goldman Sachs Group dropped their price target on shares of Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and an average price target of $140.25.

Lear Price Performance

NYSE:LEA opened at $95.61 on Thursday. The company has a market capitalization of $5.20 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.53 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. Lear has a 52 week low of $94.29 and a 52 week high of $147.11. The stock’s fifty day moving average is $103.66 and its two-hundred day moving average is $113.78.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. Lear’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 EPS. Equities analysts expect that Lear will post 12.19 EPS for the current year.

Hedge Funds Weigh In On Lear

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Lear by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,141,476 shares of the auto parts company’s stock valued at $124,621,000 after purchasing an additional 44,128 shares during the last quarter. Barclays PLC increased its holdings in shares of Lear by 9.8% in the 3rd quarter. Barclays PLC now owns 135,049 shares of the auto parts company’s stock valued at $14,742,000 after purchasing an additional 12,094 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Lear by 8.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,068 shares of the auto parts company’s stock valued at $7,539,000 after purchasing an additional 5,500 shares in the last quarter. MML Investors Services LLC grew its holdings in Lear by 49.9% in the third quarter. MML Investors Services LLC now owns 3,207 shares of the auto parts company’s stock valued at $350,000 after purchasing an additional 1,068 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Lear during the 3rd quarter valued at about $284,000. 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.