Lear Stock Rating Upgraded by Deutsche Bank (LEA)
Lear (NYSE:LEA) was upgraded by analysts at Deutsche Bank to a “buy” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings News reports.
Lear (NYSE:LEA) opened at 84.59 on Wednesday. Lear has a 52-week low of $55.81 and a 52-week high of $87.19. The stock has a 50-day moving average of $83.23 and a 200-day moving average of $80.67. The company has a market cap of $6.878 billion and a P/E ratio of 15.78. Lear also was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 641,220 shares, a decline of 61.7% from the March 31st total of 1,672,840 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 803,810 shares, the short-interest ratio is presently 0.8 days.
Lear (NYSE:LEA) last announced its earnings results on Friday, April 25th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts expect that Lear will post $7.64 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Lear from $91.00 to $94.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Lear from $90.00 to $101.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.91.
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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