Lear (NYSE:LEA - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.
Several other brokerages also recently weighed in on LEA. Citigroup assumed coverage on Lear in a report on Wednesday, April 23rd. They issued a "buy" rating and a $123.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group set a $88.00 price objective on Lear and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wells Fargo & Company upped their price target on Lear from $87.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley dropped their target price on shares of Lear from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lear currently has an average rating of "Hold" and a consensus price target of $112.09.
Check Out Our Latest Analysis on LEA
Lear Trading Up 0.4%
Lear stock traded up $0.35 during trading on Thursday, hitting $94.45. The company had a trading volume of 22,976 shares, compared to its average volume of 734,370. The company's 50 day simple moving average is $87.03 and its 200-day simple moving average is $92.84. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Lear has a 1-year low of $73.85 and a 1-year high of $130.69.
Lear (NYSE:LEA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The auto parts company reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.48. Lear had a net margin of 2.17% and a return on equity of 14.70%. The business had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the prior year, the business posted $3.18 EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts expect that Lear will post 12.89 EPS for the current fiscal year.
Insider Activity at Lear
In related news, Director Rod Lache bought 2,178 shares of Lear stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $91.80 per share, for a total transaction of $199,940.40. Following the completion of the acquisition, the director now directly owns 2,178 shares of the company's stock, valued at approximately $199,940.40. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Lear
Several large investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its position in Lear by 5.9% in the fourth quarter. Assetmark Inc. now owns 9,216 shares of the auto parts company's stock worth $873,000 after acquiring an additional 515 shares during the period. RWC Asset Management LLP raised its holdings in Lear by 23.3% during the 4th quarter. RWC Asset Management LLP now owns 410,908 shares of the auto parts company's stock valued at $38,913,000 after acquiring an additional 77,691 shares during the period. New Age Alpha Advisors LLC bought a new stake in Lear during the 4th quarter valued at $3,871,000. Dimensional Fund Advisors LP raised its stake in shares of Lear by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,614,227 shares of the auto parts company's stock valued at $247,566,000 after purchasing an additional 283,838 shares during the period. Finally, Barclays PLC raised its stake in shares of Lear by 9.8% during the 3rd quarter. Barclays PLC now owns 135,049 shares of the auto parts company's stock valued at $14,742,000 after purchasing an additional 12,094 shares during the period. Institutional investors own 97.04% of the company's stock.
About Lear
(
Get Free Report)
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.
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