Barclays upgraded shares of Lear (NYSE:LEA) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning. The firm currently has $113.00 price target on the stock, up from their previous price target of $93.00.
A number of other analysts have also recently weighed in on LEA. Analysts at KeyCorp reiterated a buy rating on shares of Lear in a research note on Monday, June 16th. They now have a $104.00 price target on the stock, up previously from $97.00. Separately, analysts at Deutsche Bank upgraded shares of Lear from a hold rating to a buy rating in a research note on Wednesday, May 14th. They now have a $100.00 price target on the stock, up previously from $95.00. Finally, analysts at Buckingham Research raised their price target on shares of Lear from $92.00 to $105.00 in a research note on Monday, April 28th. They now have a buy rating on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $98.40.
Lear (NYSE:LEA) traded up 0.36% during mid-day trading on Monday, hitting $95.20. 425,134 shares of the company’s stock traded hands. Lear has a 52 week low of $63.15 and a 52 week high of $95.18. The stock has a 50-day moving average of $90.02 and a 200-day moving average of $83.45. The company has a market cap of $7.741 billion and a P/E ratio of 17.74. Lear also was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 536,072 shares, a decline of 43.2% from the June 13th total of 944,535 shares. Based on an average trading volume of 935,828 shares, the short-interest ratio is currently 0.6 days. Currently, 0.7% of the shares of the stock are sold short.
Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.14. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that Lear will post $7.66 earnings per share for the current fiscal year.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.