Lear (NYSE:LEA) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.
A number of other research analysts have also recently issued reports on LEA. Buckingham Research decreased their price objective on shares of Lear from $150.00 to $145.00 and set a “hold” rating for the company in a report on Friday, October 26th. JPMorgan Chase & Co. decreased their price objective on shares of Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, July 27th. Robert W. Baird restated a “buy” rating and set a $243.00 price objective on shares of Lear in a report on Friday, July 27th. Citigroup decreased their price objective on shares of Lear from $234.00 to $214.00 and set a “buy” rating for the company in a report on Friday, October 12th. Finally, Barclays restated a “hold” rating and set a $170.00 price objective on shares of Lear in a report on Wednesday, October 17th. One investment analyst has 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.47.
Shares of NYSE:LEA opened at $138.87 on Thursday. Lear has a one year low of $128.05 and a one year high of $206.36. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.53 billion, a PE ratio of 8.17 and a beta of 1.31.
Lear (NYSE:LEA) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.06). Lear had a return on equity of 28.11% and a net margin of 6.14%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.95 billion. As a group, equities research analysts forecast that Lear will post 18.29 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in LEA. Jane Street Group LLC lifted its stake in Lear by 103.0% in the first quarter. Jane Street Group LLC now owns 2,639 shares of the auto parts company’s stock valued at $491,000 after buying an additional 89,215 shares in the last quarter. DnB Asset Management AS bought a new position in Lear in the second quarter valued at approximately $1,877,000. IFM Investors Pty Ltd lifted its stake in Lear by 70.9% in the second quarter. IFM Investors Pty Ltd now owns 2,177 shares of the auto parts company’s stock valued at $405,000 after buying an additional 903 shares in the last quarter. KAMES CAPITAL plc lifted its stake in Lear by 88.1% in the second quarter. KAMES CAPITAL plc now owns 15,293 shares of the auto parts company’s stock valued at $2,842,000 after buying an additional 7,164 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Lear by 26.3% in the second quarter. State of Alaska Department of Revenue now owns 13,674 shares of the auto parts company’s stock valued at $2,540,000 after buying an additional 2,850 shares in the last quarter. 90.32% of the stock is currently owned by hedge funds and other institutional investors.
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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