Lear (NYSE:LEA) Upgraded to “Strong-Buy” at Wall Street Zen

by · The Markets Daily

Lear (NYSE:LEA – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also issued reports on LEA. Evercore ISI lifted their price target on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. TD Cowen raised their price objective on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their target price on Lear from $133.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Wells Fargo & Company increased their price target on shares of Lear from $107.00 to $123.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lear in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.20.

Check Out Our Latest Report on Lear

Lear Price Performance

LEA stock traded down $1.88 during midday trading on Friday, reaching $119.85. The company had a trading volume of 765,461 shares, compared to its average volume of 390,219. The firm has a 50-day moving average price of $114.57 and a 200-day moving average price of $107.52. The company has a market capitalization of $6.22 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.11 and a beta of 1.30. Lear has a 1 year low of $73.85 and a 1 year high of $127.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.05.

Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. Lear had a net margin of 1.92% and a return on equity of 13.44%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the firm posted $2.89 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Lear will post 12.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Lear

In other news, CFO Jason M. Cardew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $118.17, for a total value of $590,850.00. Following the transaction, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. This trade represents a 24.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Lear

Several institutional investors have recently added to or reduced their stakes in the company. Vest Financial LLC boosted its position in shares of Lear by 134.9% during the third quarter. Vest Financial LLC now owns 25,951 shares of the auto parts company’s stock valued at $2,611,000 after purchasing an additional 14,904 shares in the last quarter. Signaturefd LLC raised its holdings in Lear by 449.5% in the second quarter. Signaturefd LLC now owns 1,665 shares of the auto parts company’s stock worth $158,000 after purchasing an additional 1,362 shares in the last quarter. Prudential Financial Inc. lifted its position in Lear by 2,060.5% during the second quarter. Prudential Financial Inc. now owns 104,720 shares of the auto parts company’s stock valued at $10,009,000 after buying an additional 99,873 shares during the period. Meritage Portfolio Management bought a new position in shares of Lear in the 3rd quarter worth about $3,268,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Lear by 7.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,221 shares of the auto parts company’s stock valued at $686,000 after purchasing an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Company Profile

(Get Free Report)

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

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