Lear Given New $120.00 Price Target at Buckingham Research (LEA)
Equities research analysts at Buckingham Research boosted their price target on shares of Lear (NYSE:LEA) from $105.00 to $120.00 in a research note issued to investors on Monday. Buckingham Research’s target price points to a potential upside of 21.79% from the stock’s previous close.
Shares of Lear (NYSE:LEA) traded down 0.47% during mid-day trading on Monday, hitting $98.53. The stock had a trading volume of 2,410,694 shares. Lear has a 52 week low of $66.98 and a 52 week high of $100.58. The stock’s 50-day moving average is $91.74 and its 200-day moving average is $84.4. The company has a market cap of $7.904 billion and a price-to-earnings ratio of 17.87. Lear also saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 536,072 shares, a drop of 43.2% from the June 13th total of 944,535 shares. Based on an average daily volume of 935,828 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the shares of the company are sold short.
Lear (NYSE:LEA) last released its earnings data on Friday, July 25th. The company reported $2.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.96 by $0.16. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Lear will post $7.77 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Lear from $105.00 to $108.00 in a research note on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Deutsche Bank downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $103.00 price target on the stock, up previously from $100.00. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $102.40.
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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