Lear (NYSE:LEA) Downgraded by UBS Group to Neutral

Lear (NYSE:LEA) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Buckingham Research lowered shares of Lear from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $140.00 in a research report on Wednesday, July 17th. KeyCorp reduced their price target on shares of Lear from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. They noted that the move was a valuation call. Barclays restated a “hold” rating and set a $117.00 price target on shares of Lear in a research report on Wednesday, July 31st. ValuEngine lowered shares of Lear from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley reduced their price target on shares of Lear from $165.00 to $143.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Lear presently has an average rating of “Hold” and an average target price of $157.13.

NYSE LEA opened at $126.41 on Thursday. Lear has a 1 year low of $105.10 and a 1 year high of $167.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.09. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 3.31 and a beta of 1.51. The company has a fifty day moving average price of $116.66 and a 200-day moving average price of $134.15.

Lear (NYSE:LEA) last posted its earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.82 by ($0.04). Lear had a return on equity of 23.18% and a net margin of 4.38%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company earned $4.95 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. On average, research analysts anticipate that Lear will post 14.98 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Jennison Associates raised its stake in Lear by 15.1% in the third quarter. Jennison Associates now owns 1,305,537 shares of the auto parts company’s stock valued at $142,016,000 after purchasing an additional 171,405 shares in the last quarter. Northcoast Asset Management purchased a new stake in Lear in the third quarter valued at approximately $1,273,000. ING Groep raised its stake in Lear by 100.7% in the third quarter. ING Groep now owns 95,000 shares of the auto parts company’s stock valued at $10,344,000 after purchasing an additional 47,665 shares in the last quarter. KBC Group raised its stake in Lear by 47.7% in the third quarter. KBC Group now owns 58,394 shares of the auto parts company’s stock valued at $6,352,000 after purchasing an additional 18,864 shares in the last quarter. Finally, Eagle Asset Management raised its stake in Lear by 83.5% in the third quarter. Eagle Asset Management now owns 108,486 shares of the auto parts company’s stock valued at $11,800,000 after purchasing an additional 49,366 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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