Lear (NYSE:LEA) Upgraded by StockNews.com to Buy Rating

Lear (NYSE:LEA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other equities analysts have also recently issued research reports about the company. Barclays cut Lear from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Wolfe Research started coverage on shares of Lear in a report on Thursday, September 5th. They set a “peer perform” rating for the company. TD Cowen cut their target price on shares of Lear from $142.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $132.00 price target on shares of Lear in a report on Tuesday, September 10th. Finally, Bank of America dropped their price objective on Lear from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.08.

Lear Stock Up 1.2 %

Shares of NYSE:LEA opened at $98.66 on Tuesday. The company has a 50 day moving average of $104.31 and a 200-day moving average of $114.28. Lear has a one year low of $94.29 and a one year high of $147.11. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.54 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03.

Lear (NYSE:LEA) last released its earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.32. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business earned $2.87 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lear will post 12.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Lear by 405.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,356 shares of the auto parts company’s stock valued at $5,606,000 after acquiring an additional 41,197 shares in the last quarter. Brooklyn Investment Group acquired a new position in Lear during the third quarter worth $34,000. Quantbot Technologies LP boosted its holdings in Lear by 39.8% during the third quarter. Quantbot Technologies LP now owns 20,948 shares of the auto parts company’s stock worth $2,286,000 after purchasing an additional 5,967 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Lear by 15.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,762 shares of the auto parts company’s stock valued at $2,157,000 after purchasing an additional 2,586 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its position in Lear by 3,359.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 49,812 shares of the auto parts company’s stock worth $5,437,000 after buying an additional 48,372 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.

About Lear

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.