StockNews.com Upgrades Lear (NYSE:LEA) to Buy

StockNews.com upgraded shares of Lear (NYSE:LEA) from a hold rating to a buy rating in a report published on Tuesday morning.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Bank of America cut their price target on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Barclays downgraded Lear from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $140.00 to $120.00 in a research note on Wednesday, October 30th. TD Cowen decreased their price target on Lear from $142.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Wolfe Research began coverage on shares of Lear in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.25.

Lear Stock Down 0.5 %

Shares of NYSE:LEA opened at $95.59 on Tuesday. Lear has a 1 year low of $94.29 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The business’s 50-day moving average is $103.66 and its 200-day moving average is $113.86. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.55 and a beta of 1.46.

Lear (NYSE:LEA) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.87 EPS. Equities research analysts predict that Lear will post 12.22 earnings per share for the current year.

Institutional Trading of Lear

Several hedge funds have recently made changes to their positions in LEA. Pzena Investment Management LLC increased its holdings in Lear by 7.3% in the 3rd quarter. Pzena Investment Management LLC now owns 7,714,653 shares of the auto parts company’s stock worth $842,054,000 after acquiring an additional 526,763 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lear by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,023,195 shares of the auto parts company’s stock valued at $872,640,000 after purchasing an additional 109,746 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Lear by 9.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,754,752 shares of the auto parts company’s stock valued at $314,620,000 after buying an additional 238,964 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lear by 36.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock valued at $213,726,000 after buying an additional 504,091 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its holdings in Lear by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,816,880 shares of the auto parts company’s stock valued at $207,506,000 after acquiring an additional 17,820 shares during the period. 97.04% of the stock is currently owned by institutional investors.

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 in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.