Robert W. Baird reaffirmed their buy rating on shares of Lear Corporation (NYSE:LEA) in a research note published on Friday, September 1st. Robert W. Baird currently has a $178.00 price objective on the auto parts company’s stock.
A number of other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of Lear Corporation from a hold rating to a buy rating in a report on Friday, August 25th. Barclays PLC increased their target price on shares of Lear Corporation from $146.00 to $152.00 and gave the stock an equal weight rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Lear Corporation from a sell rating to a hold rating in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a hold rating and set a $157.00 target price on shares of Lear Corporation in a report on Wednesday, July 12th. Finally, Guggenheim began coverage on shares of Lear Corporation in a report on Wednesday, June 21st. They set a buy rating and a $167.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $150.18.
Shares of Lear Corporation (NYSE:LEA) opened at 167.17 on Friday. Lear Corporation has a 52 week low of $110.77 and a 52 week high of $167.67. The company has a market cap of $11.38 billion, a P/E ratio of 11.14 and a beta of 1.31. The firm has a 50-day moving average of $148.17 and a 200 day moving average of $144.07.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, topping the consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.51% and a return on equity of 32.34%. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business posted $3.66 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts expect that Lear Corporation will post $16.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Thursday, August 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. Lear Corporation’s payout ratio is 13.28%.
Several institutional investors and hedge funds have recently made changes to their positions in LEA. Toronto Dominion Bank grew its position in shares of Lear Corporation by 23.9% in the 1st quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Lear Corporation by 52.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the last quarter. TrimTabs Asset Management LLC grew its position in shares of Lear Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the last quarter. Global X Management Co. LLC grew its position in shares of Lear Corporation by 30.3% in the 1st quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new position in shares of Lear Corporation in the 2nd quarter valued at $126,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
About Lear Corporation
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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