Lear Corp. (LEA) Downgraded by RBC Capital Markets
Lear Corp. (NYSE:LEA) was downgraded by equities research analysts at RBC Capital Markets from an “outperform” rating to a “sector perform” rating in a research report issued on Friday. They currently have a $121.00 price objective on the stock. RBC Capital Markets’ price objective would suggest a potential upside of 3.96% from the company’s current price. The analysts noted that the move was a valuation call.
LEA has been the subject of several other reports. Zacks Investment Research raised Lear Corp. from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Tuesday, October 4th. Bank of America Corp. lowered Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Goldman Sachs Group Inc. lowered Lear Corp. from a “neutral” rating to a “sell” rating and reduced their target price for the company from $116.00 to $107.00 in a report on Thursday, October 6th. JPMorgan Chase & Co. upped their target price on Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Citigroup Inc. upped their target price on Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Lear Corp. has an average rating of “Hold” and an average price target of $125.45.
Shares of Lear Corp. (NYSE:LEA) traded up 0.67% during trading on Friday, reaching $117.17. The company’s stock had a trading volume of 106,088 shares. The stock has a 50-day moving average of $117.94 and a 200-day moving average of $113.54. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00. The stock has a market cap of $8.38 billion, a P/E ratio of 9.38 and a beta of 1.22.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/lear-corp-lea-downgraded-by-rbc-capital-markets-to-sector-perform.html
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.32 by $0.34. The firm earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. Analysts predict that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s payout ratio is currently 9.58%.
In other news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the transaction, the director now directly owns 4,025 shares of the company’s stock, valued at $479,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of LEA. Sigma Planning Corp raised its position in Lear Corp. by 0.4% in the second quarter. Sigma Planning Corp now owns 2,274 shares of the company’s stock worth $231,000 after buying an additional 9 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Lear Corp. by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,977 shares of the company’s stock worth $506,000 after buying an additional 14 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares during the period. Moody Lynn & Lieberson LLC increased its stake in shares of Lear Corp. by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,040 shares of the company’s stock worth $309,000 after buying an additional 31 shares during the period. Finally, BB&T Securities LLC increased its stake in shares of Lear Corp. by 1.7% in the second quarter. BB&T Securities LLC now owns 2,386 shares of the company’s stock worth $242,000 after buying an additional 40 shares during the period. 94.70% of the stock is owned by hedge funds and other institutional investors.
About Lear Corp.
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 operates through two segments: seating and electrical.
Receive News & Ratings for Lear Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Corp. and related companies with MarketBeat.com's FREE daily email newsletter.