Lear Corporation (LEA) Stock Rating Upgraded by Zacks Investment Research
Lear Corporation (NYSE:LEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $195.00 price objective on the auto parts company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.02% from the company’s current price.
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 analysts also recently issued reports on the company. KeyCorp upped their price objective on Lear Corporation from $180.00 to $184.00 and gave the company a “buy” rating in a research report on Friday, October 13th. UBS AG downgraded Lear Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $158.00 to $182.00 in a research report on Tuesday, October 3rd. Jefferies Group LLC began coverage on Lear Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $197.00 price objective on the stock. Buckingham Research downgraded Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Cowen and Company began coverage on Lear Corporation in a research report on Monday, September 25th. They issued an “outperform” rating and a $195.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $167.60.
Lear Corporation (NYSE:LEA) opened at 172.54 on Wednesday. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 11.50 and a beta of 1.35. The firm has a 50-day moving average price of $166.84 and a 200-day moving average price of $149.18. Lear Corporation has a one year low of $110.77 and a one year high of $177.24.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the business earned $3.66 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict that Lear Corporation will post $16.59 earnings per share for the current year.
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In related news, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total transaction of $494,855.06. Following the transaction, the director now directly owns 7,761 shares in the company, valued at $1,345,679.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry D. G. Wallace sold 4,139 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. Insiders have sold 9,404 shares of company stock worth $1,601,681 over the last quarter. 0.49% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Lear Corporation by 1,617.8% during the first quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock worth $1,007,136,000 after acquiring an additional 6,699,449 shares during the last quarter. Vanguard Group Inc. increased its stake in Lear Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 6,409,081 shares of the auto parts company’s stock worth $910,602,000 after acquiring an additional 158,042 shares during the last quarter. LSV Asset Management increased its stake in Lear Corporation by 1.9% during the second quarter. LSV Asset Management now owns 2,499,675 shares of the auto parts company’s stock worth $355,153,000 after acquiring an additional 46,353 shares during the last quarter. State Street Corp increased its stake in Lear Corporation by 7.2% during the first quarter. State Street Corp now owns 1,725,677 shares of the auto parts company’s stock worth $244,312,000 after acquiring an additional 115,931 shares during the last quarter. Finally, AJO LP increased its stake in Lear Corporation by 1.6% during the second quarter. AJO LP now owns 1,654,084 shares of the auto parts company’s stock worth $235,012,000 after acquiring an additional 25,444 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.
Lear Corporation 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’s segments include Seating and E-Systems.
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