Lear Corporation (NYSE:LEA) had its target price boosted by investment analysts at Barclays PLC from $146.00 to $152.00 in a research note issued on Thursday, July 27th, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Barclays PLC’s price target indicates a potential upside of 4.50% from the company’s current price.
Several other analysts have also weighed in on LEA. Berenberg Bank initiated coverage on Lear Corporation in a report on Friday, March 31st. They issued a “buy” rating and a $175.00 price objective for the company. Zacks Investment Research raised Lear Corporation from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a report on Tuesday, April 4th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $148.00 target price on shares of Lear Corporation in a report on Monday, April 10th. Robert W. Baird raised Lear Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the company from $160.00 to $161.00 in a report on Thursday, April 20th. Finally, Seaport Global Securities raised Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 target price for the company in a report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $148.64.
Shares of Lear Corporation (NYSE LEA) opened at 145.46 on Thursday. The company’s 50-day moving average is $145.77 and its 200-day moving average is $142.88. Lear Corporation has a one year low of $110.77 and a one year high of $153.28. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 9.69 and a beta of 1.32.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $3.66 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Lear Corporation will post $16.55 EPS for the current year.
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In other news, Director Greg C. Smith sold 2,266 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Comerica Securities Inc. increased its stake in shares of Lear Corporation by 36.6% in the first quarter. Comerica Securities Inc. now owns 4,407 shares of the auto parts company’s stock valued at $624,000 after buying an additional 1,180 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Lear Corporation during the first quarter valued at $3,302,000. Hillsdale Investment Management Inc. increased its stake in shares of Lear Corporation by 3.2% in the first quarter. Hillsdale Investment Management Inc. now owns 2,270 shares of the auto parts company’s stock valued at $322,000 after buying an additional 70 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Lear Corporation during the first quarter valued at $969,000. Finally, Global Financial Private Capital LLC acquired a new stake in shares of Lear Corporation during the first quarter valued at $1,379,000. Hedge funds and other institutional investors own 96.59% of the company’s stock.
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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