Lear (LEA) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Lear (NYSE:LEA) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $199.00 price objective on the auto parts company’s stock.

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 research analysts also recently issued reports on the stock. Robert W. Baird reiterated a buy rating and set a $178.00 price target on shares of Lear in a report on Friday, September 1st. Royal Bank of Canada upgraded shares of Lear from a sector perform rating to an outperform rating and upped their price target for the stock from $183.00 to $213.00 in a report on Thursday, October 26th. KeyCorp upped their price target on shares of Lear from $180.00 to $184.00 and gave the stock a buy rating in a report on Friday, October 13th. Deutsche Bank upped their price target on shares of Lear from $167.00 to $176.00 and gave the stock a hold rating in a report on Thursday, October 26th. Finally, Cowen reiterated a buy rating and set a $196.00 price target on shares of Lear in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Lear presently has an average rating of Hold and a consensus target price of $173.38.

Lear (NYSE LEA) opened at $176.98 on Tuesday. Lear has a 1 year low of $131.82 and a 1 year high of $181.46. The company has a market cap of $11,960.00, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34.

Lear (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.80 by $0.16. Lear had a net margin of 5.79% and a return on equity of 31.79%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. equities research analysts anticipate that Lear will post 16.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a $0.50 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.00 dividend on an annualized basis and a yield of 1.13%. Lear’s payout ratio is 12.22%.

In related news, SVP Mel Stephens sold 796 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total value of $142,484.00. Following the completion of the sale, the senior vice president now directly owns 40,000 shares in the company, valued at $7,160,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Terrence B. Larkin sold 1,137 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $177.74, for a total transaction of $202,090.38. Following the sale, the executive vice president now directly owns 6,912 shares in the company, valued at approximately $1,228,538.88. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LEA. Toronto Dominion Bank boosted its position in Lear by 10.9% during the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after acquiring an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Lear during the second quarter valued at $126,000. Crossmark Global Holdings Inc. bought a new stake in Lear during the third quarter valued at $210,000. Calamos Advisors LLC bought a new stake in Lear during the third quarter valued at $216,000. Finally, Systematic Financial Management LP boosted its position in Lear by 144.0% during the second quarter. Systematic Financial Management LP now owns 1,525 shares of the auto parts company’s stock valued at $217,000 after acquiring an additional 900 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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Lear 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.

Analyst Recommendations for Lear (NYSE:LEA)

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