By otakuyassine3@gmail.com 
Lear (NYSE:LEA – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other equities analysts have also recently issued reports on LEA. TD Cowen lowered their price objective on shares of Lear from $142.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on Lear from $106.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Lear from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Bank of America lowered their target price on Lear from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Lear currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.67.
Check Out Our Latest Research Report on LEA
Lear Price Performance
Shares of LEA stock traded up $0.18 during trading hours on Thursday, reaching $93.19. The company’s stock had a trading volume of 907,061 shares, compared to its average volume of 670,835. Lear has a fifty-two week low of $91.70 and a fifty-two week high of $147.11. The firm’s 50 day simple moving average is $99.13 and its 200-day simple moving average is $108.91. The company has a quick ratio of 1.03, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.60 and a beta of 1.45.
Lear (NYSE:LEA – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.32. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. Lear’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $2.87 earnings per share. Sell-side analysts forecast that Lear will post 12.01 earnings per share for the current year.
Hedge Funds Weigh In On Lear
A number of hedge funds have recently bought and sold shares of LEA. Pacer Advisors Inc. grew its holdings in Lear by 11,753.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,016,778 shares of the auto parts company’s stock worth $116,126,000 after acquiring an additional 1,008,200 shares during the period. Pzena Investment Management LLC grew its stake in Lear by 15.2% during the second quarter. Pzena Investment Management LLC now owns 7,187,890 shares of the auto parts company’s stock worth $820,929,000 after purchasing an additional 946,109 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lear by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,871,346 shares of the auto parts company’s stock worth $213,726,000 after acquiring an additional 504,091 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Lear by 115.4% in the second quarter. Point72 Asset Management L.P. now owns 561,100 shares of the auto parts company’s stock worth $64,083,000 after purchasing an additional 300,667 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Lear by 9.5% in the second 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 purchasing an additional 238,964 shares in the last quarter. Institutional investors own 97.04% 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 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.
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