Lear Co. (NYSE:LEA) Receives Average Recommendation of “Hold” from Brokerages
Shares of Lear Co. (NYSE:LEA) have been given an average recommendation of “Hold” by the nineteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $149.57.
Several brokerages recently issued reports on LEA. Longbow Research reaffirmed a “buy” rating and set a $190.00 target price on shares of Lear in a research report on Sunday, June 30th. Royal Bank of Canada cut Lear from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $160.00 to $135.00 in a research report on Wednesday, July 17th. Credit Suisse Group cut their target price on Lear from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. ValuEngine cut Lear from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Finally, KeyCorp cut their price objective on Lear from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th.
Shares of NYSE:LEA opened at $120.78 on Thursday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 3.15 and a beta of 1.48. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Lear has a 12-month low of $105.10 and a 12-month high of $160.00. The business’s 50 day moving average is $116.56 and its 200 day moving average is $129.51.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Thursday, August 29th were given a $0.75 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $3.00 annualized dividend and a yield of 2.48%. Lear’s dividend payout ratio is currently 16.47%.
A number of hedge funds have recently bought and sold shares of the business. Oakworth Capital Inc. bought a new stake in shares of Lear in the second quarter valued at $26,000. Meridian Wealth Management LLC bought a new stake in shares of Lear in the first quarter valued at $28,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Lear in the third quarter valued at $47,000. NEXT Financial Group Inc raised its stake in shares of Lear by 64.8% in the second quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock valued at $59,000 after buying an additional 166 shares during the period. Finally, Clear Perspective Advisors LLC bought a new stake in shares of Lear in the second quarter valued at $75,000. 89.34% of the stock is currently owned by institutional investors and hedge funds.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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