Lear Corp. (LEA) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lear Corp. (NYSE:LEA) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $141.00 price target on the stock.

According to Zacks, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan. “

A number of other equities research analysts also recently commented on LEA. JPMorgan Chase & Co. increased their price objective on shares of Lear Corp. from $129.00 to $130.00 and gave the company a neutral rating in a research report on Friday, July 29th. Barclays PLC set a $127.00 price objective on shares of Lear Corp. and gave the company a hold rating in a research report on Monday, August 1st. Citigroup Inc. increased their price objective on shares of Lear Corp. from $145.00 to $153.00 and gave the company a buy rating in a research report on Tuesday, August 2nd. Seaport Global Securities started coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They issued a neutral rating on the stock. Finally, Goldman Sachs Group Inc. downgraded shares of Lear Corp. from a neutral rating to a sell rating and dropped their target price for the company from $116.00 to $107.00 in a research report on Thursday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $126.50.

Lear Corp. (NYSE:LEA) traded down 0.16% on Wednesday, reaching $125.98. 234,525 shares of the company were exchanged. The stock has a 50-day moving average price of $119.73 and a 200 day moving average price of $115.21. Lear Corp. has a 52 week low of $93.54 and a 52 week high of $127.00. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 9.57 and a beta of 1.29.

Lear Corp. (NYSE:LEA) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $3.19 EPS for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.23. Lear Corp. had a net margin of 5.26% and a return on equity of 31.86%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the firm posted $2.56 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Lear Corp. will post $13.69 earnings per share for the current year.

In other news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the sale, the director now owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of Lear Corp. by 0.4% in the second quarter. Sigma Planning Corp now owns 2,274 shares of the company’s stock valued at $231,000 after buying an additional 9 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Lear Corp. by 0.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,977 shares of the company’s stock valued at $506,000 after buying an additional 14 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the period. Moody Lynn & Lieberson LLC boosted its stake in shares of Lear Corp. by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 3,040 shares of the company’s stock valued at $309,000 after buying an additional 31 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of Lear Corp. by 1.7% in the second quarter. BB&T Securities LLC now owns 2,386 shares of the company’s stock valued at $242,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 98.74% of the company’s stock.

Lear Corp. 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 operates through two segments: seating and electrical.

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