Lear Corporation (LEA) Lowered to “Buy” at BidaskClub
BidaskClub lowered shares of Lear Corporation (NYSE:LEA) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.
Several other equities analysts have also weighed in on the stock. Morgan Stanley lowered 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 report on Thursday, June 8th. Zacks Investment Research lowered shares of Lear Corporation from a strong-buy rating to a hold rating in a report on Tuesday, March 28th. Barclays PLC reiterated an equal weight rating and set a $134.00 price objective (down previously from $138.00) on shares of Lear Corporation in a report on Saturday, April 22nd. Guggenheim initiated coverage on shares of Lear Corporation in a report on Wednesday, June 21st. They set a buy rating and a $167.00 price objective on the stock. Finally, Bank of America Corporation lowered shares of Lear Corporation from a neutral rating to an underperform rating and dropped their price objective for the company from $135.00 to $110.00 in a report on Friday, June 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Lear Corporation presently has an average rating of Hold and a consensus price target of $147.54.
Lear Corporation (LEA) traded down 1.00% during mid-day trading on Tuesday, hitting $149.17. The company’s stock had a trading volume of 450,852 shares. The firm has a 50 day moving average of $144.31 and a 200-day moving average of $142.67. Lear Corporation has a 52-week low of $107.65 and a 52-week high of $153.28. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 9.94 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the 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 analyst estimates of $4.89 billion. During the same quarter in the prior year, the business earned $3.66 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Lear Corporation will post $16.29 EPS for the current fiscal year.
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In related news, Director Greg C. Smith sold 2,266 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $145.12, for a total value of $328,841.92. Following the sale, the director now owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.49% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC raised its stake in Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the period. Global X Management Co. LLC raised its stake in Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the period. Finally, Van ECK Associates Corp raised its stake in Lear Corporation by 5.4% in the first quarter. Van ECK Associates Corp now owns 991 shares of the auto parts company’s stock valued at $140,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.
Lear Corporation Company Profile
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.
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