Lear Stock Rating Reaffirmed by Citigroup Inc. (LEA)
Lear (NYSE:LEA)‘s stock had its “buy” rating restated by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $117.00 price objective on the stock, up from their previous price objective of $101.00. Citigroup Inc.’s price target points to a potential upside of 18.75% from the company’s current price.
Lear (NYSE:LEA) traded down 0.47% on Monday, hitting $98.53. The stock had a trading volume of 2,410,624 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 P/E ratio of 17.87. Lear also was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 536,072 shares, a decrease of 43.2% from the June 13th total of 944,535 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 935,828 shares, the short-interest ratio is presently 0.6 days.
Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, July 25th. The company reported $2.12 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.62 earnings per share. Lear’s revenue was up 11.5% compared to the same quarter last year. 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 Buckingham Research raised their price target on shares of Lear from $105.00 to $120.00 in a research note on Monday. Separately, 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. Finally, 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average 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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