Lear (NYSE:LEA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Lear (NYSE:LEA) had its target price lifted by The Goldman Sachs Group from $115.00 to $131.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 1.54% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Citigroup reiterated a “buy” rating and set a $179.00 target price (up from $177.00) on shares of Lear in a report on Monday. Morgan Stanley set a $130.00 target price on shares of Lear in a report on Monday. Barclays set a $140.00 target price on shares of Lear in a report on Thursday, February 5th. Benchmark began coverage on shares of Lear in a report on Thursday, February 19th. They set a “buy” rating and a $170.00 target price for the company. Finally, Royal Bank Of Canada began coverage on shares of Lear in a research note on Thursday, March 12th. They issued a “sector perform” rating and a $135.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Lear currently has a consensus rating of “Hold” and an average price target of $138.38.

Lear Trading Down 2.6%

Shares of Lear stock traded down $3.39 during trading on Monday, reaching $129.02. 374,691 shares of the stock were exchanged, compared to its average volume of 569,778. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $122.88 and its 200 day moving average is $118.00. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. Lear has a 1 year low of $82.88 and a 1 year high of $142.84.

Lear (NYSE:LEA) last posted its earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.36. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. Lear’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 earnings per share. As a group, equities research analysts expect that Lear will post 14.19 earnings per share for the current fiscal year.

Insider Activity at Lear

In related news, CFO Jason M. Cardew sold 10,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $134.51, for a total value of $1,345,100.00. Following the completion of the transaction, the chief financial officer directly owned 22,741 shares of the company’s stock, valued at $3,058,891.91. This represents a 30.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marianne Vidershain sold 1,590 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $135.00, for a total transaction of $214,650.00. Following the completion of the transaction, the vice president directly owned 1,862 shares of the company’s stock, valued at approximately $251,370. The trade was a 46.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,264 shares of company stock valued at $3,400,687 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Lear

Several large investors have recently made changes to their positions in LEA. Altshuler Shaham Ltd purchased a new position in shares of Lear during the fourth quarter valued at approximately $25,000. WealthCollab LLC purchased a new position in shares of Lear during the second quarter valued at approximately $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Lear during the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its holdings in shares of Lear by 62.6% during the third quarter. Allworth Financial LP now owns 309 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Lear by 942.3% during the fourth quarter. Global Retirement Partners LLC now owns 271 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 245 shares during the last quarter. 97.04% of the stock is currently owned by hedge funds and other institutional investors.

About Lear

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.