Longbow Research set a $190.00 price objective on Lear (NYSE:LEA) in a research note published on Monday, June 24th, Stock Target Advisor reports. The firm currently has a buy rating on the auto parts company’s stock.
LEA has been the topic of several other research reports. Argus started coverage on Lear in a research report on Thursday, March 28th. They set a hold rating on the stock. Deutsche Bank lowered Lear from a buy rating to a hold rating and decreased their target price for the stock from $162.00 to $159.00 in a report on Tuesday, March 19th. Morgan Stanley decreased their target price on Lear from $181.00 to $174.00 and set an overweight rating on the stock in a report on Thursday, May 16th. KeyCorp decreased their target price on Lear from $190.00 to $185.00 and set an overweight rating on the stock in a report on Monday, April 29th. Finally, ValuEngine lowered Lear from a hold rating to a sell rating in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $173.13.
NYSE:LEA opened at $135.15 on Monday. Lear has a fifty-two week low of $114.45 and a fifty-two week high of $192.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.10. The company has a market cap of $8.61 billion, a PE ratio of 8.09, a PEG ratio of 3.16 and a beta of 1.48. The company’s 50-day simple moving average is $132.88.
Lear (NYSE:LEA) last released its earnings results on Friday, April 26th. The auto parts company reported $4.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.06 by ($0.06). The firm had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.25 billion. Lear had a net margin of 4.94% and a return on equity of 25.28%. The company’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.10 EPS. Equities analysts anticipate that Lear will post 17.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. Lear’s dividend payout ratio is currently 16.47%.
Several hedge funds have recently made changes to their positions in LEA. Norges Bank bought a new stake in shares of Lear during the 4th quarter worth $653,026,000. Pzena Investment Management LLC acquired a new position in Lear in the 4th quarter worth about $339,861,000. Massachusetts Financial Services Co. MA increased its holdings in Lear by 140.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,841,520 shares of the auto parts company’s stock worth $349,110,000 after purchasing an additional 1,659,488 shares in the last quarter. Harris Associates L P increased its holdings in Lear by 65.9% in the 4th quarter. Harris Associates L P now owns 3,424,807 shares of the auto parts company’s stock worth $420,772,000 after purchasing an additional 1,360,164 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Lear in the 4th quarter worth about $83,677,000. Institutional investors and hedge funds 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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