UBS Group cut shares of Lear (NYSE:LEA) from a buy rating to a neutral rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports. UBS Group currently has $135.00 price target on the auto parts company’s stock, down from their prior price target of $158.00.
Other equities research analysts have also issued reports about the company. TheStreet lowered Lear from a b- rating to a c+ rating in a research report on Friday, August 23rd. Credit Suisse Group lowered their price target on Lear from $155.00 to $130.00 and set a neutral rating for the company in a research report on Monday, July 29th. Royal Bank of Canada lowered Lear from an outperform rating to a sector perform rating and lowered their price target for the company from $160.00 to $135.00 in a research report on Wednesday, July 17th. Barclays reissued a hold rating and issued a $117.00 price target on shares of Lear in a research report on Wednesday, July 31st. Finally, KeyCorp decreased their target price on Lear from $185.00 to $170.00 and set an overweight rating for the company in a research report on Friday, July 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $155.60.
Shares of LEA opened at $126.34 on Thursday. Lear has a 12-month low of $105.10 and a 12-month high of $167.86. The business’s fifty day moving average is $116.49 and its 200 day moving average is $134.01. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.69 billion, a P/E ratio of 6.93, a P/E/G ratio of 3.37 and a beta of 1.51.
Lear (NYSE:LEA) last issued its earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the business earned $4.95 earnings per share. Lear’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts expect that Lear will post 14.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Thursday, August 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, August 28th. Lear’s dividend payout ratio (DPR) is currently 16.47%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. purchased a new stake in Lear in the 2nd quarter worth about $26,000. Meridian Wealth Management LLC purchased a new stake in Lear in the 1st quarter worth about $28,000. NEXT Financial Group Inc increased its holdings in Lear by 64.8% in the 2nd quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock worth $59,000 after acquiring an additional 166 shares during the last quarter. Clear Perspective Advisors LLC purchased a new stake in Lear in the 2nd quarter worth about $75,000. Finally, Private Ocean LLC purchased a new stake in Lear in the 2nd quarter worth about $77,000. 89.20% of the stock is owned by institutional investors.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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