Lear Corporation (NYSE:LEA) Upgraded to “Strong-Buy” by BidaskClub

Lear Corporation (NYSE:LEA) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, July 12th.

A number of other equities analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of Lear Corporation from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $149.00 to $142.00 in a research note on Thursday, June 8th. Zacks Investment Research downgraded shares of Lear Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Barclays PLC restated an “equal weight” rating and issued a $134.00 target price (down from $138.00) on shares of Lear Corporation in a research note on Saturday, April 22nd. Guggenheim assumed coverage on shares of Lear Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $167.00 target price for the company. Finally, Bank of America Corporation downgraded shares of Lear Corporation from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $135.00 to $110.00 in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Lear Corporation presently has a consensus rating of “Hold” and a consensus price target of $148.64.

Lear Corporation (NYSE:LEA) traded up 0.39% during mid-day trading on Wednesday, reaching $148.09. The company had a trading volume of 402,218 shares. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 9.87 and a beta of 1.32. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $153.28. The stock has a 50-day moving average of $144.24 and a 200 day moving average of $142.76.

Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the firm earned $3.66 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Lear Corporation will post $16.49 EPS for the current year.

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In related news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now directly owns 13,885 shares in the company, valued at $2,014,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Lear Corporation by 1,617.8% in the first quarter. BlackRock Inc. now owns 7,113,550 shares of the auto parts company’s stock valued at $1,007,136,000 after buying an additional 6,699,449 shares during the last quarter. Ardevora Asset Management LLP purchased a new position in Lear Corporation during the second quarter valued at $34,540,000. Harbour Capital Advisors LLC raised its position in Lear Corporation by 14,108.0% in the second quarter. Harbour Capital Advisors LLC now owns 223,776 shares of the auto parts company’s stock valued at $1,575,000 after buying an additional 222,201 shares during the last quarter. Prudential Financial Inc. raised its position in Lear Corporation by 43.8% in the first quarter. Prudential Financial Inc. now owns 685,822 shares of the auto parts company’s stock valued at $97,099,000 after buying an additional 209,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Lear Corporation by 156.8% in the first quarter. Principal Financial Group Inc. now owns 315,253 shares of the auto parts company’s stock valued at $44,634,000 after buying an additional 192,473 shares during the last quarter. Institutional investors own 97.57% 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.

Analyst Recommendations for Lear Corporation (NYSE:LEA)

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