Lear (NYSE:LEA) Upgraded to “Strong-Buy” at Argus

Lear (NYSE:LEA) was upgraded by equities researchers at Argus to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on LEA. UBS Group raised their target price on Lear from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price objective on shares of Lear in a report on Thursday, January 15th. Evercore increased their price target on Lear from $110.00 to $120.00 and gave the stock an “in-line” rating in a research report on Monday, November 24th. Citigroup raised their target price on shares of Lear from $146.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TD Cowen upped their price objective on shares of Lear from $117.00 to $133.00 and gave the company a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $135.10.

Lear Trading Down 1.2%

Shares of Lear stock opened at $139.22 on Monday. Lear has a 52-week low of $73.85 and a 52-week high of $141.28. The firm has a market capitalization of $7.22 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.05. The company’s fifty day moving average price is $119.15 and its two-hundred day moving average price is $109.02.

Lear (NYSE:LEA) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Lear had a net margin of 1.88% and a return on equity of 13.40%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.94 earnings per share. On average, analysts expect that Lear will post 12.89 EPS for the current year.

Insider Transactions at Lear

In other Lear news, CFO Jason M. Cardew sold 5,000 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $118.17, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer owned 15,244 shares in the company, valued at approximately $1,801,383.48. This represents a 24.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Lear

Hedge funds and other institutional investors have recently bought and sold shares of the company. M&T Bank Corp raised its holdings in shares of Lear by 46,707.8% in the fourth quarter. M&T Bank Corp now owns 951,602 shares of the auto parts company’s stock valued at $109,054,000 after purchasing an additional 949,569 shares during the last quarter. Schroder Investment Management Group lifted its stake in Lear by 75.6% in the second quarter. Schroder Investment Management Group now owns 1,801,284 shares of the auto parts company’s stock valued at $171,086,000 after acquiring an additional 775,476 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Lear by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 1,269,500 shares of the auto parts company’s stock worth $120,577,000 after buying an additional 558,538 shares during the period. Norges Bank acquired a new position in shares of Lear in the second quarter valued at approximately $48,468,000. Finally, Balyasny Asset Management L.P. bought a new position in Lear during the 2nd quarter worth $39,656,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.