Lear (NYSE:LEA) Rating Lowered to Hold at Wall Street Zen

Lear (NYSE:LEA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. BNP Paribas Exane cut Lear from an “outperform” rating to a “neutral” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Wells Fargo & Company lifted their price target on shares of Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Barclays increased their price objective on shares of Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft set a $131.00 price objective on shares of Lear in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Lear currently has an average rating of “Hold” and a consensus target price of $145.23.

Lear Stock Performance

NYSE LEA opened at $128.38 on Friday. The company’s fifty day moving average is $134.01 and its two-hundred day moving average is $131.45. Lear has a 52-week low of $96.04 and a 52-week high of $150.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 1.04. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.62 and a beta of 1.25.

Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.30. Lear had a net margin of 2.35% and a return on equity of 14.18%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts forecast that Lear will post 14.86 EPS for the current year.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of Lear stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $147.50, for a total value of $737,500.00. Following the completion of the sale, the chief financial officer directly owned 13,241 shares of the company’s stock, valued at approximately $1,953,047.50. This trade represents a 27.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Conrad L. Mallett, Jr. sold 1,646 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $121.35, for a total value of $199,742.10. Following the completion of the transaction, the director owned 37 shares in the company, valued at approximately $4,489.95. This represents a 97.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,336 shares of company stock worth $8,367,727. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. HB Wealth Management LLC raised its stake in shares of Lear by 47.1% during the second quarter. HB Wealth Management LLC now owns 2,560 shares of the auto parts company’s stock worth $343,000 after buying an additional 820 shares during the last quarter. Syon Capital LLC lifted its holdings in Lear by 13.0% in the second quarter. Syon Capital LLC now owns 2,467 shares of the auto parts company’s stock valued at $331,000 after buying an additional 284 shares during the period. Nykredit A S bought a new position in Lear in the second quarter valued at approximately $208,000. F&V Capital Management LLC grew its holdings in Lear by 1.6% during the 2nd quarter. F&V Capital Management LLC now owns 87,170 shares of the auto parts company’s stock worth $11,686,000 after acquiring an additional 1,390 shares during the period. Finally, BTG Pactual Asset Management US LLC acquired a new stake in Lear during the 2nd quarter worth $343,000. Institutional investors own 97.04% of the company’s stock.

Trending Headlines about Lear

Here are the key news stories impacting Lear this week:

• Negative Sentiment: Detroit’s Ethics Board is reportedly investigating the city’s top lawyer over a side job at Lear. The inquiry could create governance, compliance and reputational concerns, although the article does not indicate financial misconduct or any operational impact on Lear. Detroit Ethics Board to investigate top city lawyer for side job at Lear
• Neutral Sentiment: The other listed articles concern Cleveland-Cliffs, entertainment, education, cryptocurrency, personal finance and unrelated topics, and do not provide material information about Lear Corporation.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.