Citigroup Forecasts Strong Price Appreciation for Lear (NYSE:LEA) Stock

by · The Markets Daily

Lear (NYSE:LEA – Get Free Report) had its price objective lifted by investment analysts at Citigroup from $123.00 to $136.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. Citigroup’s target price indicates a potential upside of 43.38% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Bank of America lifted their price objective on Lear from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. JPMorgan Chase & Co. boosted their price target on shares of Lear from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Cowen downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price objective on shares of Lear from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Lear from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.27.

View Our Latest Stock Report on LEA

Lear Stock Performance

Shares of NYSE:LEA traded up $0.54 during trading on Monday, hitting $94.86. The company’s stock had a trading volume of 308,406 shares, compared to its average volume of 709,502. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.03. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.53 and a beta of 1.29. The company has a 50-day moving average of $89.85 and a 200-day moving average of $91.46. Lear has a 12 month low of $73.85 and a 12 month high of $126.85.

Lear (NYSE:LEA – Get Free Report) last released its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.48. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.47 billion. Lear had a net margin of 2.09% and a return on equity of 14.53%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.18 EPS. On average, sell-side analysts expect that Lear will post 12.89 earnings per share for the current year.

Insider Buying and Selling

In other Lear news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $92.86, for a total value of $110,224.82. Following the transaction, the director now owns 84 shares of the company’s stock, valued at $7,800.24. This represents a 93.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lear

A number of institutional investors have recently modified their holdings of LEA. Voya Investment Management LLC raised its stake in Lear by 34.4% in the first quarter. Voya Investment Management LLC now owns 45,690 shares of the auto parts company’s stock worth $4,031,000 after buying an additional 11,696 shares in the last quarter. Inspire Investing LLC raised its stake in Lear by 8.9% in the 1st quarter. Inspire Investing LLC now owns 4,634 shares of the auto parts company’s stock worth $409,000 after acquiring an additional 378 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Lear by 955.2% during the first quarter. Bayforest Capital Ltd now owns 1,108 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,003 shares during the period. Empowered Funds LLC acquired a new stake in Lear during the 1st quarter valued at approximately $256,000. Finally, United Services Automobile Association acquired a new position in Lear during the first quarter valued at $267,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Lear Company Profile

(Get Free Report)

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.

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