Goldman Sachs Lowers Lear Price Target to $124.00

The Goldman Sachs Group has reduced its price target for Lear (NYSE: LEA) from $140.00 to $124.00, maintaining a "neutral" rating on the auto parts company's stock. The new target suggests a potential upside of 1.99% from the stock's previous close. This adjustment comes amid mixed analyst sentiment, with some upgrading their price targets while others downgrade their ratings.

Recent reports indicate that BNP Paribas Exane cut Lear's rating from "outperform" to "neutral" on August 3rd. Meanwhile, Royal Bank of Canada increased its target price to $143.00 with a "sector perform" rating, and Barclays raised its target to $155.00 with an "equal weight" rating. Wells Fargo & Company also increased its price objective to $138.00 with an "equal weight" rating. Overall, the stock has received a "Hold" consensus rating with an average price target of $145.00.

Lear's stock opened at $121.58 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.31, and a debt-to-equity ratio of 0.51. Its 50-day moving average price is $125.79, and its 200-day moving average price is $130.45. The stock has a 52-week low of $96.04 and a 52-week high of $150.33, with a market capitalization of $6.00 billion.

On July 31st, Lear reported quarterly earnings of $4.28 per share, exceeding the consensus estimate of $3.98. The company's revenue for the quarter was $6.21 billion, up 3.0% year-over-year. Recently, Lear's Board of Directors initiated a stock repurchase plan allowing the company to buy back $1.50 billion in outstanding shares. Institutional investors own 97.04% of the stock, with several recent adjustments in holdings by various firms.