Lear Corporation (LEA) Price Target Increased to $184.00 by Analysts at KeyCorp
Lear Corporation (NYSE:LEA) had its price objective raised by investment analysts at KeyCorp from $180.00 to $184.00 in a report issued on Friday. The firm currently has a “buy” rating on the auto parts company’s stock. KeyCorp’s target price indicates a potential upside of 6.78% from the stock’s previous close.
LEA has been the subject of a number of other research reports. Zacks Investment Research cut Lear Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Guggenheim initiated coverage on Lear Corporation in a report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price target for the company. Robert W. Baird restated a “buy” rating and issued a $178.00 price target on shares of Lear Corporation in a report on Friday, September 1st. BidaskClub cut Lear Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Bank of America Corporation cut Lear Corporation from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $135.00 to $110.00 in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Lear Corporation currently has an average rating of “Hold” and an average target price of $165.64.
Shares of Lear Corporation (NYSE LEA) traded up 0.35% during mid-day trading on Friday, hitting $172.92. 85,079 shares of the stock traded hands. The company has a market cap of $11.77 billion, a P/E ratio of 11.52 and a beta of 1.35. Lear Corporation has a one year low of $110.77 and a one year high of $177.24. The stock has a 50 day moving average price of $162.86 and a 200-day moving average price of $148.01.
Lear Corporation (NYSE:LEA) last issued its earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business earned $3.66 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts forecast that Lear Corporation will post $16.56 earnings per share for the current fiscal year.
In other Lear Corporation news, SVP Mel Stephens sold 2,411 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $172.88, for a total value of $416,813.68. Following the transaction, the senior vice president now directly owns 44,484 shares of the company’s stock, valued at approximately $7,690,393.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $166.71, for a total value of $690,012.69. Following the completion of the transaction, the director now directly owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,404 shares of company stock worth $1,601,681. 0.49% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Achmea Investment Management B.V. acquired a new position in shares of Lear Corporation in the 1st quarter valued at approximately $3,302,000. Deschutes Portfolio Strategy LLC raised its position in shares of Lear Corporation by 21.9% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock valued at $316,000 after purchasing an additional 400 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Lear Corporation by 16.0% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 671,211 shares of the auto parts company’s stock valued at $95,365,000 after purchasing an additional 92,491 shares in the last quarter. Citigroup Inc. raised its position in shares of Lear Corporation by 16.7% in the 2nd quarter. Citigroup Inc. now owns 216,660 shares of the auto parts company’s stock valued at $30,783,000 after purchasing an additional 30,988 shares in the last quarter. Finally, Paradice Investment Management LLC raised its position in shares of Lear Corporation by 4.0% in the 2nd quarter. Paradice Investment Management LLC now owns 438,790 shares of the auto parts company’s stock valued at $62,343,000 after purchasing an additional 16,900 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.
Lear Corporation Company Profile
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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