Lear Corp. (LEA) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Lear Corp. (NYSE:LEA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $141.00 target price on the stock.
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. “
Other research analysts also recently issued research reports about the stock. Citigroup Inc. increased their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the company a buy rating in a report on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the company a hold rating in a report on Monday, August 1st. Seaport Global Securities initiated coverage on shares of Lear Corp. in a report on Tuesday, August 9th. They issued a neutral rating for the company. JPMorgan Chase & Co. increased their price target on shares of Lear Corp. from $129.00 to $130.00 and gave the company a neutral rating in a report on Friday, July 29th. Finally, Robert W. Baird initiated coverage on shares of Lear Corp. in a research note on Monday, October 10th. They issued a neutral rating and a $133.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $126.50.
Lear Corp. (NYSE:LEA) traded down 0.16% on Wednesday, hitting $125.98. The company’s stock had a trading volume of 234,525 shares. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00. The firm has a 50 day moving average of $119.73 and a 200 day moving average of $115.21. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 9.57 and a beta of 1.29.
Lear Corp. (NYSE:LEA) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $3.19 EPS for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.23. Lear Corp. had a net margin of 5.26% and a return on equity of 31.86%. The firm earned $4.50 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm earned $2.56 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Lear Corp. will post $13.69 earnings per share for the current fiscal year.
In other news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the sale, the director now directly owns 4,025 shares in the company, valued at $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its position in Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock worth $103,000 after buying an additional 529 shares in the last quarter. Global X Management Co. LLC increased its position in Lear Corp. by 65.9% in the third quarter. Global X Management Co. LLC now owns 934 shares of the company’s stock worth $113,000 after buying an additional 371 shares in the last quarter. Financial Architects Inc increased its position in Lear Corp. by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the company’s stock worth $123,000 after buying an additional 1,000 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares in the last quarter. Finally, Societe Generale acquired a new position in Lear Corp. during the second quarter worth about $121,000. Institutional investors own 98.74% of the company’s stock.
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.