Seaport Global Securities Begins Coverage on Lear (LEA)

Analysts at Seaport Global Securities began coverage on shares of Lear (NYSE:LEA) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the auto parts company’s stock.

Several other equities research analysts have also commented on LEA. Zacks Investment Research lowered shares of Lear from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. ValuEngine upgraded shares of Lear from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Goldman Sachs Group reiterated a “buy” rating and issued a $182.00 price objective (up from $163.00) on shares of Lear in a report on Monday, January 28th. KeyCorp increased their price objective on shares of Lear from $178.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, January 28th. Finally, Barclays reiterated a “hold” rating and issued a $142.00 price objective on shares of Lear in a report on Thursday, January 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $182.29.

Shares of NYSE:LEA opened at $154.31 on Wednesday. Lear has a 52 week low of $114.45 and a 52 week high of $206.36. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 3.31 and a beta of 1.40. The company has a current ratio of 1.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.45.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, January 25th. The auto parts company reported $4.05 EPS for the quarter, beating the consensus estimate of $3.96 by $0.09. Lear had a net margin of 5.37% and a return on equity of 27.12%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business earned $4.38 earnings per share. Lear’s revenue was down 7.9% compared to the same quarter last year. Sell-side analysts predict that Lear will post 17.91 EPS for the current year.

Lear announced that its Board of Directors has authorized a share buyback program on Thursday, February 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the auto parts company to purchase up to 15.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, Director Richard Harold Bott sold 789 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $135.13, for a total transaction of $106,617.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.43% of the company’s stock.

Large investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC bought a new stake in Lear during the fourth quarter worth approximately $32,000. IMS Capital Management bought a new stake in Lear during the third quarter worth approximately $38,000. Oregon Public Employees Retirement Fund boosted its holdings in Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after buying an additional 4,854,451 shares in the last quarter. Rational Advisors LLC bought a new stake in Lear during the fourth quarter worth approximately $49,000. Finally, Legacy Financial Advisors Inc. boosted its holdings in Lear by 250.2% during the third quarter. Legacy Financial Advisors Inc. now owns 956 shares of the auto parts company’s stock worth $138,000 after buying an additional 683 shares in the last quarter. Hedge funds and other institutional investors own 96.53% of the company’s stock.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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The Fly

Analyst Recommendations for Lear (NYSE:LEA)

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