Robert W. Baird Reiterates “Buy” Rating for Lear Corporation (LEA)
Lear Corporation (NYSE:LEA)‘s stock had its “buy” rating reaffirmed by research analysts at Robert W. Baird in a note issued to investors on Friday. They currently have a $178.00 target price on the auto parts company’s stock. Robert W. Baird’s price objective points to a potential upside of 17.41% from the stock’s current price.
A number of other equities research analysts also recently weighed in on LEA. BidaskClub raised Lear Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Barclays PLC lifted their target price on Lear Corporation from $146.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, July 27th. Royal Bank Of Canada reissued a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a report on Wednesday, July 12th. Seaport Global Securities raised Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 target price for the company in a report on Thursday, May 4th. Finally, ValuEngine downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $150.18.
Lear Corporation (LEA) traded up 1.38% during trading on Friday, reaching $151.61. 948,768 shares of the company traded hands. Lear Corporation has a 12 month low of $110.77 and a 12 month high of $153.28. The company’s 50-day moving average is $146.15 and its 200 day moving average is $143.23. The company has a market cap of $10.32 billion, a PE ratio of 10.10 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, topping the Zacks’ consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the business posted $3.66 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts anticipate that Lear Corporation will post $16.55 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of LEA. BlackRock Inc. increased its position in Lear Corporation by 1,617.8% in the first quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock worth $1,007,136,000 after buying an additional 6,699,449 shares during the period. Balyasny Asset Management LLC increased its position in Lear Corporation by 7,465.0% in the second quarter. Balyasny Asset Management LLC now owns 716,175 shares of the auto parts company’s stock worth $101,754,000 after buying an additional 706,708 shares during the period. Koch Industries Inc. bought a new position in Lear Corporation during the second quarter worth approximately $485,000. Ardevora Asset Management LLP bought a new position in Lear Corporation during the second quarter worth approximately $34,540,000. Finally, Harbour Capital Advisors LLC increased its position in Lear Corporation by 14,108.0% in the second quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock worth $1,575,000 after buying an additional 222,201 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.
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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