JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lear (NYSE:LEA) Stock

Lear (NYSE:LEA) had its price objective upped by JPMorgan Chase & Co. from $153.00 to $159.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.02% from the company’s current price.

A number of other equities research analysts have also weighed in on LEA. The Goldman Sachs Group boosted their target price on shares of Lear from $115.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Morgan Stanley set a $130.00 price target on Lear in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on Lear in a research report on Monday, May 4th. Barclays increased their target price on Lear from $150.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Royal Bank Of Canada raised their target price on Lear from $134.00 to $138.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $144.23.

Lear Stock Performance

Shares of LEA stock traded up $2.28 during trading hours on Friday, reaching $137.04. The company had a trading volume of 39,723 shares, compared to its average volume of 594,072. The business has a fifty day moving average price of $137.75 and a 200-day moving average price of $128.64. Lear has a one year low of $91.67 and a one year high of $150.33. The firm has a market cap of $6.87 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.33.

Lear (NYSE:LEA) last released its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.36. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Lear had a net margin of 2.25% and a return on equity of 13.69%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.12 earnings per share. Sell-side analysts predict that Lear will post 14.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lear news, CEO Raymond E. Scott sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $135.37, for a total transaction of $6,768,500.00. Following the completion of the sale, the chief executive officer owned 49,789 shares of the company’s stock, valued at approximately $6,739,936.93. The trade was a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Conrad L. Mallett, Jr. sold 190 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $141.34, for a total value of $26,854.60. Following the completion of the sale, the director owned 1,683 shares of the company’s stock, valued at approximately $237,875.22. The trade was a 10.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,026 shares of company stock valued at $8,498,248 in the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Lear during the fourth quarter valued at approximately $25,000. WealthCollab LLC purchased a new position in shares of Lear in the second quarter worth $28,000. Los Angeles Capital Management LLC bought a new position in shares of Lear during the fourth quarter worth $30,000. Allworth Financial LP boosted its position 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 worth $31,000 after acquiring an additional 119 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in 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 acquiring an additional 245 shares in the last quarter. 97.04% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: Barclays lifted its price target on Lear Corporation to $155 from $150, signaling higher expected value for the stock. Lear (NYSE:LEA) Given New $155.00 Price Target at Barclays
• Positive Sentiment: Earlier earnings results were supportive, as Lear posted EPS above consensus, which can continue to underpin investor sentiment.
• Neutral Sentiment: Barclays maintained an equal weight rating, indicating the firm is not calling for a major re-rating despite the higher target.

Lear Company Profile

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.