Lear Corporation (NYSE:LEA) Receives $124.30 Average Target Price from Brokerages

Shares of Lear Corporation (NYSE:LEA) have been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $126.00.

A number of equities analysts recently issued reports on LEA shares. Morgan Stanley reiterated an “equal weight” rating and issued a $112.00 target price (down previously from $115.00) on shares of Lear in a research report on Monday, December 8th. Evercore ISI increased their price objective on shares of Lear from $110.00 to $120.00 and gave the company an “in-line” rating in a report on Monday, November 24th. Barclays raised their price objective on shares of Lear from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Wall Street Zen cut Lear from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company increased their price target on Lear from $107.00 to $123.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th.

Insider Activity

In related news, CFO Jason M. Cardew sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total value of $590,850.00. Following the sale, the chief financial officer directly owned 15,244 shares in the company, valued at $1,801,383.48. The trade was a 24.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its stake in shares of Lear by 1,384.2% during the 2nd quarter. IFP Advisors Inc now owns 282 shares of the auto parts company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. WealthCollab LLC purchased a new stake in shares of Lear during the second quarter valued at $28,000. Allworth Financial LP boosted its position in shares of Lear by 62.6% in the 3rd 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 period. Advisory Services Network LLC purchased a new position in Lear in the 3rd quarter worth about $33,000. Finally, Quent Capital LLC acquired a new stake in Lear during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Stock Performance

Shares of LEA stock opened at $121.06 on Thursday. Lear has a 12-month low of $73.85 and a 12-month high of $127.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.05. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. The business has a 50 day simple moving average of $113.30 and a 200 day simple moving average of $106.93.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 EPS. On average, equities research analysts anticipate that Lear will post 12.89 EPS for the current year.

Lear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Wednesday, December 10th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, December 10th. Lear’s dividend payout ratio is presently 37.65%.

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.