Lear (NYSE:LEA) had its price objective dropped by equities researchers at KeyCorp from $185.00 to $170.00 in a research note issued on Friday, The Fly reports. The firm currently has an “overweight” rating on the auto parts company’s stock. KeyCorp’s price objective would indicate a potential upside of 24.62% from the company’s previous close. KeyCorp also issued estimates for Lear’s Q2 2019 earnings at $3.93 EPS, FY2019 earnings at $16.95 EPS and FY2020 earnings at $19.45 EPS. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also issued reports on the stock. Deutsche Bank raised shares of Arista Networks from a “sell” rating to a “hold” rating and increased their price objective for the company from $190.00 to $225.00 in a report on Tuesday, March 19th. Longbow Research reaffirmed a “buy” rating and set a $190.00 price objective on shares of Lear in a report on Sunday, June 30th. Credit Suisse Group began coverage on shares of Magna International in a report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 price objective for the company. Morgan Stanley set a $12.00 price objective on shares of Adient and gave the company a “sell” rating in a report on Wednesday, June 26th. Finally, Argus began coverage on shares of Lear in a report on Thursday, March 28th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $172.13.
Lear stock opened at $136.42 on Friday. The business has a 50 day moving average price of $133.06. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 3.12 and a beta of 1.48. Lear has a 12-month low of $114.45 and a 12-month high of $192.73. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44.
Lear (NYSE:LEA) last announced its quarterly earnings data on Friday, April 26th. The auto parts company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). Lear had a net margin of 4.94% and a return on equity of 25.28%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the business earned $5.10 earnings per share. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, analysts predict that Lear will post 17.42 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Lear by 96.6% in the fourth quarter. Advisor Group Inc. now owns 6,689 shares of the auto parts company’s stock valued at $822,000 after buying an additional 3,286 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Lear by 0.3% in the fourth quarter. Northern Trust Corp now owns 614,017 shares of the auto parts company’s stock valued at $75,438,000 after buying an additional 1,626 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Lear in the fourth quarter valued at $596,000. United Services Automobile Association lifted its stake in shares of Lear by 3.7% in the fourth quarter. United Services Automobile Association now owns 74,951 shares of the auto parts company’s stock valued at $9,208,000 after buying an additional 2,685 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lear by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,040,569 shares of the auto parts company’s stock valued at $127,843,000 after buying an additional 27,314 shares in the last quarter. Hedge funds and other institutional investors own 89.15% 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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