Zacks Investment Research upgraded shares of Lear Corporation (NYSE:LEA) from a hold rating to a buy rating in a report released on Wednesday, October 18th. Zacks Investment Research currently has $195.00 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. “
Other equities analysts have also recently issued reports about the company. Cowen and Company began coverage on Lear Corporation in a research report on Monday, September 25th. They set an outperform rating and a $195.00 target price for the company. KeyCorp boosted their target price on Lear Corporation from $180.00 to $184.00 and gave the stock a buy rating in a research report on Friday, October 13th. Royal Bank Of Canada reiterated a hold rating and issued a $157.00 price objective on shares of Lear Corporation in a report on Wednesday, July 12th. BidaskClub cut Lear Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Guggenheim assumed coverage on Lear Corporation in a report on Wednesday, June 21st. They issued a buy rating and a $167.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $173.13.
Shares of Lear Corporation (NYSE LEA) opened at 177.16 on Wednesday. The company has a 50-day moving average price of $168.88 and a 200 day moving average price of $150.39. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 11.80 and a beta of 1.35. Lear Corporation has a 1-year low of $112.54 and a 1-year high of $178.80.
Lear Corporation (NYSE:LEA) last posted its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.80 by $0.16. Lear Corporation had a return on equity of 33.06% and a net margin of 5.79%. The business had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Lear Corporation will post $16.64 EPS for the current year.
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In other news, Director Jonathan F. Foster sold 2,854 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $173.39, for a total value of $494,855.06. Following the completion of the sale, the director now owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the completion of the sale, the director now directly owns 4,100 shares of the company’s stock, valued at approximately $683,511. The disclosure for this sale can be found here. In the last three months, insiders sold 9,404 shares of company stock valued at $1,601,681. 0.49% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC bought a new position in Lear Corporation during the 3rd quarter valued at approximately $216,000. First Trust Advisors LP raised its position in Lear Corporation by 0.7% during the 3rd quarter. First Trust Advisors LP now owns 184,748 shares of the auto parts company’s stock valued at $31,976,000 after purchasing an additional 1,289 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Lear Corporation during the 3rd quarter valued at approximately $519,000. Strs Ohio raised its position in Lear Corporation by 9.3% during the 3rd quarter. Strs Ohio now owns 5,378 shares of the auto parts company’s stock valued at $930,000 after purchasing an additional 459 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Lear Corporation by 25.3% during the 3rd quarter. APG Asset Management N.V. now owns 788,621 shares of the auto parts company’s stock valued at $136,495,000 after purchasing an additional 159,000 shares during the last quarter. 94.18% of the stock is owned by institutional investors and hedge funds.
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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