Lear Upgraded by Barclays to “Overweight” (LEA)
Lear (NYSE:LEA) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday. The firm currently has a $113.00 price target on the stock, up from their previous price target of $93.00. Barclays’ target price points to a potential upside of 22.18% from the stock’s previous close.
Shares of Lear (NYSE:LEA) traded up 2.55% on Monday, hitting $94.85. 612,277 shares of the company’s stock traded hands. Lear has a 52 week low of $63.15 and a 52 week high of $92.94. The stock’s 50-day moving average is $89.81 and its 200-day moving average is $83.33. The company has a market cap of $7.712 billion and a P/E ratio of 17.30. Lear also was the target of a large decline in short interest in 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. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 935,828 shares, the days-to-cover ratio is presently 0.6 days.
Lear (NYSE:LEA) last issued its quarterly earnings data 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 $7.66 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Buckingham Research raised their price target on shares of Lear from $92.00 to $105.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $97.40.
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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