Lear Corp. Price Target Raised to $105.00 at Buckingham Research (LEA)
Equities researchers at Buckingham Research increased their price objective on shares of Lear Corp. (NYSE:LEA) from $92.00 to $105.00 in a research report issued on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Buckingham Research’s price objective suggests a potential upside of 27.29% from the company’s current price.
Lear Corp. (NYSE:LEA) traded down 0.75% during mid-day trading on Monday, hitting $82.49. The stock had a trading volume of 955,330 shares. Lear Corp. has a 52-week low of $55.81 and a 52-week high of $87.19. The stock’s 50-day moving average is $82.9 and its 200-day moving average is $79.95. The company has a market cap of $6.662 billion and a P/E ratio of 16.66. Lear Corp. also was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,672,840 shares, a growth of 94.0% from the March 14th total of 862,237 shares. Based on an average daily volume of 765,793 shares, the short-interest ratio is presently 2.2 days. Currently, 2.1% of the shares of the stock are short sold.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Friday, April 25th. The company reported $1.84 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.30 earnings per share. Lear Corp.’s revenue was up 10.5% compared to the same quarter last year. Analysts expect that Lear Corp. will post $7.52 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Lear Corp. in a research note on Monday. They now have a $94.00 price target on the stock, up previously from $91.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Lear Corp. in a research note on Monday. They now have a $95.00 price target on the stock, up previously from $94.00. Finally, analysts at Citigroup Inc. raised their price target on shares of Lear Corp. from $90.00 to $101.00 in a research note on Monday. They now have a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $93.06.
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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