Lear Given New $107.00 Price Target at Goldman Sachs (LEA)
Equities researchers at Goldman Sachs cut their price target on shares of Lear (NYSE:LEA) from $108.00 to $107.00 in a research report issued on Monday. Goldman Sachs’ target price indicates a potential upside of 12.05% from the stock’s previous close.
LEA has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of Lear from an “equal weight” rating to an “overweight” rating in a research note on Monday. They now have a $113.00 price target on the stock, up previously from $93.00. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Lear in a research note on Monday, June 16th. They now have a $104.00 price target on the stock, up previously from $97.00. Finally, analysts at Deutsche Bank upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $100.00 price target on the stock, up previously from $95.00. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $98.40.
Shares of Lear (NYSE:LEA) traded down 0.10% on Monday, hitting $95.39. 193,350 shares of the company’s stock traded hands. Lear has a 52-week low of $64.25 and a 52-week high of $95.56. The stock has a 50-day moving average of $90.17 and a 200-day moving average of $83.55. The company has a market cap of $7.756 billion and a price-to-earnings ratio of 17.86. Lear also was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 536,072 shares, a decline of 43.2% from the June 13th total of 944,535 shares. Based on an average daily trading volume, of 935,828 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.7% of the company’s shares are short sold.
Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.14. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that Lear will post $7.67 EPS for the current fiscal year.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
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