Lear Corporation (LEA) Given “Buy” Rating at KeyCorp
Lear Corporation (NYSE:LEA)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report released on Sunday. They currently have a $180.00 price target on the auto parts company’s stock. KeyCorp’s price objective would suggest a potential upside of 7.67% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $149.00 to $142.00 in a research report on Thursday, June 8th. Zacks Investment Research downgraded Lear Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Guggenheim started coverage on Lear Corporation in a research report on Wednesday, June 21st. They set a “buy” rating and a $167.00 price target on the stock. BidaskClub downgraded Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $135.00 to $110.00 in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Lear Corporation presently has a consensus rating of “Hold” and an average price target of $152.67.
Shares of Lear Corporation (NYSE:LEA) traded up 2.24% during trading on Friday, reaching $167.17. The company’s stock had a trading volume of 1,340,354 shares. The company has a 50-day moving average price of $148.17 and a 200-day moving average price of $144.07. Lear Corporation has a one year low of $110.77 and a one year high of $167.67. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 11.14 and a beta of 1.31.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company earned $3.66 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Lear Corporation will post $16.53 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Lear Corporation during the 2nd quarter worth $7,331,000. USA Financial Portformulas Corp purchased a new stake in shares of Lear Corporation during the 2nd quarter worth $733,000. Toronto Dominion Bank lifted its stake in shares of Lear Corporation by 10.9% during the 2nd quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock worth $121,000 after purchasing an additional 84 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Lear Corporation during the 2nd quarter worth $562,000. Finally, Advisory Services Network LLC lifted its stake in shares of Lear Corporation by 7.3% during the 2nd quarter. Advisory Services Network LLC now owns 2,961 shares of the auto parts company’s stock worth $421,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
About Lear Corporation
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’s segments include Seating and E-Systems.
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