Lear (LEA) Upgraded by ValuEngine to Strong-Buy

Lear (NYSE:LEA) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research note on Tuesday, January 9th. Longbow Research started coverage on shares of Lear in a research note on Friday, January 5th. They issued a “buy” rating and a $225.00 price target on the stock. KeyCorp increased their price target on shares of Lear from $180.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Cowen reiterated a “buy” rating and issued a $196.00 price target on shares of Lear in a research note on Friday, October 27th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $213.00 price target on shares of Lear in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $189.59.

Shares of Lear (NYSE:LEA) traded up $2.60 during trading on Thursday, reaching $186.63. 838,823 shares of the company’s stock traded hands, compared to its average volume of 687,692. The stock has a market capitalization of $12,489.28, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.39 and a beta of 1.48. Lear has a one year low of $132.01 and a one year high of $202.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.36 and a quick ratio of 1.09.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $4.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.25 by $0.13. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.27 billion. Lear had a net margin of 6.42% and a return on equity of 30.32%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.80 earnings per share. sell-side analysts predict that Lear will post 18.87 earnings per share for the current year.

In related news, EVP Terrence B. Larkin sold 1,137 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $177.74, for a total transaction of $202,090.38. Following the completion of the sale, the executive vice president now directly owns 6,912 shares of the company’s stock, valued at $1,228,538.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mel Stephens sold 796 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $179.00, for a total value of $142,484.00. Following the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at $7,160,000. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Lear by 77.7% during the third quarter. Victory Capital Management Inc. now owns 120,012 shares of the auto parts company’s stock worth $20,772,000 after purchasing an additional 52,469 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Lear by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 933,481 shares of the auto parts company’s stock worth $161,573,000 after purchasing an additional 42,464 shares during the period. Koch Industries Inc. acquired a new stake in shares of Lear during the second quarter worth $485,000. Artemis Investment Management LLP lifted its holdings in shares of Lear by 27.9% during the third quarter. Artemis Investment Management LLP now owns 72,956 shares of the auto parts company’s stock worth $12,629,000 after purchasing an additional 15,900 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Lear by 9.4% during the third quarter. BNP Paribas Arbitrage SA now owns 98,078 shares of the auto parts company’s stock worth $16,975,000 after purchasing an additional 8,405 shares during the period. 91.56% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Lear (LEA) Upgraded by ValuEngine to Strong-Buy” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/02/11/lear-lea-upgraded-by-valuengine-to-strong-buy.html.

About Lear

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lear (NYSE:LEA)

Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply