Lear’s (LEA) “Buy” Rating Reiterated at Royal Bank of Canada

Lear (NYSE:LEA)‘s stock had its “buy” rating reiterated by analysts at Royal Bank of Canada in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $216.00 price target on the auto parts company’s stock. Royal Bank of Canada’s target price points to a potential upside of 32.74% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on LEA. KeyCorp raised their price objective on shares of Lear from $148.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, December 16th. Berenberg Bank initiated coverage on shares of Lear in a report on Tuesday, October 6th. They set a “buy” rating and a $145.00 price objective on the stock. Zacks Investment Research lowered shares of Lear from a “strong-buy” rating to a “hold” rating and set a $166.00 price target on the stock. in a research note on Tuesday, December 22nd. JPMorgan Chase & Co. lifted their price target on shares of Lear from $125.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Finally, Bank of America reiterated a “neutral” rating on shares of Lear in a research note on Tuesday, November 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $141.29.

NYSE LEA opened at $162.73 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.31. The firm has a 50-day simple moving average of $157.69 and a 200 day simple moving average of $129.25. Lear has a twelve month low of $63.20 and a twelve month high of $170.68. The stock has a market cap of $9.77 billion, a PE ratio of 92.46, a PEG ratio of 2.53 and a beta of 1.60.

Lear (NYSE:LEA) last announced its quarterly earnings results on Wednesday, November 4th. The auto parts company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.51. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.71 billion. Lear had a net margin of 0.50% and a return on equity of 6.17%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $3.54 EPS. Research analysts forecast that Lear will post 4.98 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of LEA. Commonwealth Equity Services LLC purchased a new position in Lear in the second quarter worth about $260,000. FMR LLC boosted its stake in shares of Lear by 14.2% in the 2nd quarter. FMR LLC now owns 5,053,187 shares of the auto parts company’s stock worth $550,899,000 after buying an additional 628,787 shares during the last quarter. Stifel Financial Corp lifted its position in Lear by 12.4% during the second quarter. Stifel Financial Corp now owns 8,073 shares of the auto parts company’s stock valued at $880,000 after purchasing an additional 889 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Lear by 241.1% during the second quarter. Cubist Systematic Strategies LLC now owns 9,891 shares of the auto parts company’s stock valued at $1,078,000 after acquiring an additional 6,991 shares during the period. Finally, Man Group plc bought a new stake in shares of Lear in the second quarter worth about $679,000. 92.20% of the stock is owned by institutional investors and hedge funds.

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, South America, and internationally. Its Seating segment offers leather and fabric products, seat covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles.

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Analyst Recommendations for Lear (NYSE:LEA)

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