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.

ILLEGAL ACTIVITY WARNING: This news story was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/08/25/lear-corporation-lea-upgraded-to-buy-at-bidaskclub.html.

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.

Analyst Recommendations for Lear Corporation (NYSE:LEA)

Receive News & Stock Ratings for Lear Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corporation and related stocks with our FREE daily email newsletter.