Lear (NYSE:LEA) Price Target Cut to $170.00

Lear (NYSE:LEA) had its price target cut by KeyCorp from $185.00 to $170.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the auto parts company’s stock. KeyCorp also issued estimates for Lear’s Q2 2019 earnings at $3.93 EPS, FY2019 earnings at $16.95 EPS and FY2020 earnings at $19.45 EPS. The analysts noted that the move was a valuation call.

A number of other analysts have also commented on LEA. Argus started coverage on shares of Lear in a research note on Thursday, March 28th. They set a hold rating for the company. Credit Suisse Group started coverage on shares of Magna International in a research note on Wednesday, June 26th. They set a neutral rating and a $55.00 price target for the company. Longbow Research restated a buy rating and set a $190.00 price target on shares of Lear in a research note on Sunday, June 30th. ValuEngine lowered shares of Welbilt from a hold rating to a sell rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley set a $12.00 price target on shares of Adient and gave the company a sell rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $172.13.

Lear stock opened at $135.28 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44. Lear has a 12-month low of $114.45 and a 12-month high of $192.73. The company’s fifty day moving average is $133.68. The firm has a market cap of $8.32 billion, a P/E ratio of 7.42, a PEG ratio of 3.13 and a beta of 1.48.

Lear (NYSE:LEA) last released its earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.06 by ($0.06). Lear had a net margin of 4.94% and a return on equity of 25.28%. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the firm earned $5.10 EPS. The firm’s revenue was down 10.0% on a year-over-year basis. On average, analysts anticipate that Lear will post 17.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. Lear’s payout ratio is 16.47%.

Several hedge funds and other institutional investors have recently bought and sold shares of LEA. Meridian Wealth Management LLC purchased a new position in shares of Lear in the 1st quarter worth about $28,000. Pinnacle Bank purchased a new position in shares of Lear in the 4th quarter worth about $31,000. Quadrant Capital Group LLC boosted its holdings in shares of Lear by 78.2% in the 1st quarter. Quadrant Capital Group LLC now owns 531 shares of the auto parts company’s stock worth $69,000 after buying an additional 233 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Lear by 25.1% in the 4th quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after buying an additional 176 shares during the last quarter. Finally, First Hawaiian Bank boosted its holdings in shares of Lear by 8.8% in the 1st quarter. First Hawaiian Bank now owns 1,230 shares of the auto parts company’s stock worth $167,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.22% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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