Brokerages Set Lear Corporation (NYSE:LEA) Target Price at $138.00

Shares of Lear Corporation (NYSE:LEA) have received a consensus recommendation of “Hold” from the fourteen analysts that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $137.5833.

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a research report on Thursday, January 22nd. Argus upgraded Lear to a “strong-buy” rating in a research note on Monday, February 9th. Royal Bank Of Canada started coverage on Lear in a research report on Thursday, March 12th. They set a “sector perform” rating and a $135.00 price target for the company. Citigroup raised their price target on shares of Lear from $146.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd.

Insider Buying and Selling at Lear

In related news, SVP Harry Albert Kemp sold 7,000 shares of Lear stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $136.31, for a total value of $954,170.00. Following the sale, the senior vice president owned 17,423 shares of the company’s stock, valued at approximately $2,374,929.13. The trade was a 28.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason M. Cardew sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $134.51, for a total value of $1,345,100.00. Following the sale, the chief financial officer owned 22,741 shares in the company, valued at $3,058,891.91. The trade was a 30.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 25,264 shares of company stock valued at $3,400,687. Corporate insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of Lear by 15.0% during the 4th quarter. UMB Bank n.a. now owns 676 shares of the auto parts company’s stock worth $77,000 after purchasing an additional 88 shares in the last quarter. Inspire Advisors LLC grew its stake in shares of Lear by 4.5% in the fourth quarter. Inspire Advisors LLC now owns 2,147 shares of the auto parts company’s stock valued at $246,000 after buying an additional 92 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in Lear by 4.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,389 shares of the auto parts company’s stock worth $274,000 after buying an additional 99 shares during the last quarter. Allworth Financial LP increased its holdings in Lear by 32.0% during the fourth quarter. Allworth Financial LP now owns 408 shares of the auto parts company’s stock worth $47,000 after buying an additional 99 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Lear by 34.0% during the third quarter. Farther Finance Advisors LLC now owns 422 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 107 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

Lear Trading Down 2.9%

LEA opened at $118.47 on Tuesday. The stock has a market capitalization of $6.01 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.88 and a beta of 1.24. Lear has a 12 month low of $73.85 and a 12 month high of $142.84. The firm’s fifty day simple moving average is $125.24 and its 200 day simple moving average is $114.70. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Lear (NYSE:LEA) last released its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. Lear had a return on equity of 13.40% and a net margin of 1.88%.The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the prior year, the company earned $2.94 EPS. The company’s revenue was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Lear will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Thursday, March 5th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, March 5th. Lear’s payout ratio is presently 37.79%.

Key Lear News

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Zacks highlights Lear as a “Top Growth Stock for the Long-Term,” citing Zacks Style Scores as part of the bullish thesis for continued earnings and growth potential. Why Lear (LEA) is a Top Growth Stock for the Long-Term
• Positive Sentiment: MSN ran a similar long-term growth piece on Lear, reinforcing the buy-side narrative that the company’s earnings trajectory and positioning in auto interior/electrical systems support multi-year growth expectations. Why Lear (LEA) is a top growth stock for the long term
• Positive Sentiment: Recent fundamentals: Lear reported a Feb. quarter beat (EPS $3.41 vs. $2.67 est., revenue $5.99B vs. $5.78B est.), Y/Y revenue growth of ~4.8%, and analyst consensus expecting about $12.89 EPS for the fiscal year — supporting valuation metrics (P/E ~14.5, PEG ~0.87) that many growth/value investors find attractive.
• Neutral Sentiment: CNN maintains a company overview page for Lear that investors can use for quick reference on business segments and news flow. Lear Corporation
• Negative Sentiment: Technical and near-term market pressure: the stock is trading below its 50-day moving average ($125.30) and is nearer the 200-day average ($114.68), with intraday volume slightly above average — a setup consistent with short-term profit-taking after the recent run toward the 52-week high. These factors help explain the share decline today.

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.