Lear Corporation (LEA) Given Average Rating of “Hold” by Analysts
Lear Corporation (NYSE:LEA) has been assigned an average rating of “Hold” from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $168.87.
A number of research firms recently weighed in on LEA. Zacks Investment Research upgraded Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Wednesday. Barclays PLC set a $171.00 price target on Lear Corporation and gave the company a “hold” rating in a research report on Friday. 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 target for the company. KeyCorp reiterated a “buy” rating and issued a $180.00 price target on shares of Lear Corporation in a research report on Sunday, September 17th. Finally, BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th.
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In other news, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $172.88, for a total transaction of $416,813.68. Following the completion of the sale, the senior vice president now directly owns 44,484 shares in the company, valued at approximately $7,690,393.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan F. Foster sold 2,854 shares of Lear Corporation stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total value of $494,855.06. Following the sale, the director now owns 7,761 shares of the company’s stock, valued at $1,345,679.79. The disclosure for this sale can be found here. Insiders have sold a total of 9,404 shares of company stock valued at $1,601,681 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Lear Corporation by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,574 shares of the auto parts company’s stock valued at $223,000 after buying an additional 20 shares during the last quarter. CIBC World Markets Inc. lifted its holdings in shares of Lear Corporation by 0.3% during the 2nd quarter. CIBC World Markets Inc. now owns 12,656 shares of the auto parts company’s stock valued at $1,798,000 after buying an additional 40 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Lear Corporation by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after buying an additional 42 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Lear Corporation by 6.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock valued at $118,000 after buying an additional 48 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Lear Corporation by 2.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,433 shares of the auto parts company’s stock valued at $346,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
Lear Corporation (LEA) opened at 173.74 on Friday. The firm has a 50-day moving average of $167.53 and a 200-day moving average of $149.44. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 11.58 and a beta of 1.35. Lear Corporation has a 12-month low of $112.46 and a 12-month high of $177.24.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the company posted $3.66 EPS. Lear Corporation’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Lear Corporation will post $16.59 earnings per share for the current fiscal year.
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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