Lear Corporation (LEA) Upgraded to Buy at BidaskClub
Lear Corporation (NYSE:LEA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other brokerages have also weighed in on LEA. Zacks Investment Research lowered shares of Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Seaport Global Securities raised shares of Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 price objective on the stock in a research report on Thursday, May 4th. Bank of America Corporation lowered shares of Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $135.00 to $110.00 in a research report on Friday, June 16th. Guggenheim started coverage on shares of Lear Corporation in a research report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective on the stock. Finally, Barclays PLC increased their price objective on shares of Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $148.64.
Shares of Lear Corporation (NYSE LEA) traded up 0.17% during trading on Friday, hitting $146.55. 70,549 shares of the stock traded hands. The company has a market cap of $9.97 billion, a PE ratio of 9.76 and a beta of 1.32. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The firm has a 50 day moving average price of $146.06 and a 200-day moving average price of $142.98.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.66 earnings per share. Analysts anticipate that Lear Corporation will post $16.55 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new position in Lear Corporation during the second quarter valued at approximately $7,331,000. USA Financial Portformulas Corp purchased a new stake in shares of Lear Corporation during the second quarter worth about $733,000. Toronto Dominion Bank increased its stake in shares of Lear Corporation by 10.9% in the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after buying an additional 84 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Lear Corporation during the second quarter worth about $562,000. Finally, Advisory Services Network LLC increased its stake in shares of Lear Corporation by 7.3% in the second quarter. Advisory Services Network LLC now owns 2,961 shares of the auto parts company’s stock worth $421,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 96.59% of the company’s stock.
About Lear Corporation
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’s segments include Seating and E-Systems.
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