Lear Co. (NYSE:LEA) Receives $149.20 Consensus PT from Brokerages

by · The Cerbat Gem

Shares of Lear Co. (NYSE:LEA – Get Free Report) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $147.91.

A number of equities research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Evercore ISI reduced their target price on Lear from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Citigroup dropped their price target on Lear from $141.00 to $127.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Morgan Stanley reduced their target price on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com upgraded Lear from a “hold” rating to a “buy” rating in a report on Friday, July 26th.

Read Our Latest Stock Report on Lear

Lear Price Performance

NYSE:LEA opened at $106.68 on Friday. Lear has a 12-month low of $101.67 and a 12-month high of $147.11. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The company’s 50-day moving average is $112.13 and its two-hundred day moving average is $122.12. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.

Lear (NYSE:LEA – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the company posted $3.33 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts expect that Lear will post 12.66 EPS for the current year.

Lear Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were given a $0.77 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.89%. Lear’s payout ratio is currently 33.59%.

Institutional Investors Weigh In On Lear

Institutional investors have recently modified their holdings of the business. State of Michigan Retirement System grew its holdings in shares of Lear by 0.5% during the first quarter. State of Michigan Retirement System now owns 18,393 shares of the auto parts company’s stock valued at $2,665,000 after purchasing an additional 100 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Lear by 2.7% during the first quarter. Daiwa Securities Group Inc. now owns 3,828 shares of the auto parts company’s stock valued at $555,000 after acquiring an additional 100 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 110 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lear by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,828 shares of the auto parts company’s stock worth $989,000 after acquiring an additional 124 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Lear by 6.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,180 shares of the auto parts company’s stock valued at $316,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

About Lear

(Get Free Report

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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