Lear Upgraded to Overweight by Barclays (LEA)

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Lear (NYSE:LEA) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Monday. The firm currently has a $113.00 target price on the stock, up from their previous target price of $93.00. Barclays’ price target indicates a potential upside of 18.34% from the company’s current price.

Shares of Lear (NYSE:LEA) traded down 0.59% during mid-day trading on Monday, hitting $94.93. The stock had a trading volume of 231,765 shares. Lear has a 1-year low of $64.25 and a 1-year high of $95.56. The stock has a 50-day moving average of $90.17 and a 200-day moving average of $83.55. The company has a market cap of $7.719 billion and a P/E ratio of 17.86. Lear also was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 536,072 shares, a decline of 43.2% from the June 13th total of 944,535 shares. Based on an average daily trading volume, of 935,828 shares, the short-interest ratio is currently 0.6 days. Approximately 0.7% of the shares of the company are sold short.

Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.70 by $0.14. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts expect that Lear will post $7.67 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on LEA. Analysts at KeyCorp reiterated a “buy” rating on shares of Lear in a research note on Monday, June 16th. They now have a $104.00 price target on the stock, up previously from $97.00. Separately, analysts at Deutsche Bank upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $100.00 price target on the stock, up previously from $95.00. Finally, analysts at Buckingham Research raised their price target on shares of Lear from $92.00 to $105.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $98.40.

Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.

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