Lear Corp. (LEA) Stock Rating Upgraded by Zacks Investment Research
Lear Corp. (NYSE:LEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $136.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.40% from the stock’s previous close.
According to Zacks, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan. “
Several other research firms have also recently weighed in on LEA. Bank of America Corp. cut shares of Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Seaport Global Securities initiated coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Citigroup Inc. increased their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $129.11.
Lear Corp. (NYSE:LEA) opened at 121.00 on Tuesday. The company has a market cap of $8.65 billion, a PE ratio of 9.68 and a beta of 1.22. The stock has a 50 day moving average of $116.59 and a 200-day moving average of $113.07. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00.
Lear Corp. (NYSE:LEA) last released its quarterly earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 EPS. On average, equities research analysts predict that Lear Corp. will post $13.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.99%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
In related news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the transaction, the director now owns 4,025 shares of the company’s stock, valued at approximately $479,941. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of LEA. Vanguard Group Inc. increased its position in shares of Lear Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,704,450 shares of the company’s stock valued at $580,484,000 after buying an additional 502,415 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Lear Corp. by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,500,988 shares of the company’s stock valued at $254,501,000 after buying an additional 132,294 shares during the last quarter. Bank of Montreal Can acquired a new position in Lear Corp. during the second quarter valued at about $222,829,000. AQR Capital Management LLC increased its position in Lear Corp. by 30.8% in the second quarter. AQR Capital Management LLC now owns 1,668,029 shares of the company’s stock valued at $169,739,000 after buying an additional 392,597 shares during the last quarter. Finally, State Street Corp increased its position in Lear Corp. by 4.5% in the first quarter. State Street Corp now owns 1,644,731 shares of the company’s stock valued at $182,840,000 after buying an additional 71,570 shares during the last quarter. 94.70% of the stock is owned by institutional investors and hedge funds.
Lear Corp. Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company operates through two segments: seating and electrical.
Receive News & Stock Ratings for Lear Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corp. and related stocks with our FREE daily email newsletter.