Lear Corporation (NYSE:LEA) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday, July 12th.
LEA has been the subject of a number of other research reports. Zacks Investment Research upgraded Lear Corporation from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Tuesday, April 4th. Berenberg Bank started coverage on Lear Corporation in a research report on Friday, March 31st. They issued a “buy” rating and a $175.00 price target for the company. Morgan Stanley lowered Lear Corporation from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Royal Bank Of Canada reiterated a “hold” rating and issued a $149.00 price target on shares of Lear Corporation in a research report on Thursday, April 27th. Finally, ValuEngine lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $148.64.
Shares of Lear Corporation (LEA) opened at 142.74 on Wednesday. The company’s 50-day moving average is $145.26 and its 200-day moving average is $142.88. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The stock has a market capitalization of $9.72 billion, a P/E ratio of 9.51 and a beta of 1.32.
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. On average, equities research analysts anticipate that Lear Corporation will post $16.49 earnings per share for the current year.
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In other news, Director Greg C. Smith sold 2,266 shares of Lear Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the sale, the director now directly owns 13,885 shares in the company, valued at approximately $2,014,991.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in LEA. Global Financial Private Capital LLC raised its stake in shares of Lear Corporation by 11.6% in the second quarter. Global Financial Private Capital LLC now owns 10,865 shares of the auto parts company’s stock valued at $1,544,000 after buying an additional 1,125 shares in the last quarter. OxFORD Asset Management LLP raised its stake in shares of Lear Corporation by 323.1% in the second quarter. OxFORD Asset Management LLP now owns 18,544 shares of the auto parts company’s stock valued at $2,635,000 after buying an additional 14,161 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lear Corporation by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 891,017 shares of the auto parts company’s stock valued at $126,581,000 after buying an additional 84,817 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in shares of Lear Corporation by 145.9% in the second quarter. Virtu KCG Holdings LLC now owns 3,673 shares of the auto parts company’s stock valued at $522,000 after buying an additional 2,179 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Lear Corporation by 3.5% in the second quarter. Quantbot Technologies LP now owns 3,088 shares of the auto parts company’s stock valued at $438,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 97.57% 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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