JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lear (NYSE:LEA) Stock

Lear (NYSE:LEA) had its price objective upped by analysts at JPMorgan Chase & Co. from $119.00 to $120.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 32.49% from the stock’s current price.

Several other research firms also recently issued reports on LEA. Barclays downgraded Lear from an “equal weight” rating to a “negative” rating in a research note on Tuesday, April 15th. UBS Group upped their target price on Lear from $83.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cowen lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Cowen lowered shares of Lear from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research note on Friday, March 7th. Finally, Evercore ISI cut their target price on shares of Lear from $125.00 to $110.00 and set an “in-line” rating for the company in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.00.

Lear Trading Up 1.8 %

Shares of NYSE LEA opened at $90.57 on Friday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.49 and a beta of 1.30. The business has a 50 day simple moving average of $87.26 and a 200 day simple moving average of $93.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear has a 52 week low of $73.85 and a 52 week high of $133.56.

Lear (NYSE:LEA) last announced its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. Lear had a net margin of 2.17% and a return on equity of 14.70%. Lear’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.18 EPS. On average, research analysts predict that Lear will post 12.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Lear

In other Lear news, Director Rod Lache acquired 2,178 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $91.80 per share, for a total transaction of $199,940.40. Following the purchase, the director now owns 2,178 shares in the company, valued at $199,940.40. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.91% of the company’s stock.

Institutional Trading of Lear

Several institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in Lear by 187.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 287 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 187 shares during the period. Addison Advisors LLC raised its holdings in shares of Lear by 68.2% in the 4th quarter. Addison Advisors LLC now owns 338 shares of the auto parts company’s stock worth $32,000 after buying an additional 137 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Lear by 233.3% during the 4th quarter. UMB Bank n.a. now owns 410 shares of the auto parts company’s stock worth $39,000 after buying an additional 287 shares during the period. Brooklyn Investment Group boosted its stake in Lear by 39.1% in the 4th quarter. Brooklyn Investment Group now owns 427 shares of the auto parts company’s stock valued at $40,000 after buying an additional 120 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Lear by 51.1% in the fourth quarter. Quadrant Capital Group LLC now owns 491 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 166 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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.