Lear (LEA) Stock Rating Reaffirmed by Citigroup

Lear (NYSE:LEA)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $234.00 target price on the auto parts company’s stock, up from their prior target price of $202.00. Citigroup’s price objective indicates a potential upside of 21.77% from the stock’s previous close.

LEA has been the topic of a number of other reports. Guggenheim cut shares of Lear from a “buy” rating to a “neutral” rating and set a $167.00 price target on the stock. in a report on Thursday, October 26th. Barclays set a $171.00 price target on shares of Lear and gave the stock a “hold” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $199.00 price target on the stock in a report on Tuesday, December 26th. ValuEngine upgraded shares of Lear from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Longbow Research started coverage on shares of Lear in a report on Friday, January 5th. They issued a “buy” rating and a $225.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Lear currently has an average rating of “Buy” and an average target price of $192.06.

Shares of Lear (NYSE LEA) traded up $5.26 on Wednesday, hitting $192.16. 644,973 shares of the stock traded hands, compared to its average volume of 691,005. Lear has a 1-year low of $132.01 and a 1-year high of $202.42. The stock has a market capitalization of $12,980.00, a P/E ratio of 10.13, a P/E/G ratio of 1.40 and a beta of 1.47. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.45.

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

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

A number of institutional investors have recently modified their holdings of LEA. Macquarie Group Ltd. grew its holdings in Lear by 36.9% during the 2nd quarter. Macquarie Group Ltd. now owns 26,883 shares of the auto parts company’s stock worth $3,820,000 after acquiring an additional 7,242 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Lear by 374.1% in the 2nd quarter. Janus Henderson Group PLC now owns 43,291 shares of the auto parts company’s stock valued at $6,151,000 after buying an additional 34,160 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Lear by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,818 shares of the auto parts company’s stock valued at $400,000 after buying an additional 334 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Lear by 3.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,201 shares of the auto parts company’s stock valued at $2,586,000 after buying an additional 599 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Lear in the 2nd quarter valued at about $858,000. Institutional investors own 92.28% of the company’s stock.

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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.

Analyst Recommendations for Lear (NYSE:LEA)

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