Lear (LEA) Stock Rating Lowered by ValuEngine

Lear (NYSE:LEA) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

Several other analysts also recently weighed in on the company. Morgan Stanley upgraded Lear from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $209.00 to $214.00 in a research report on Tuesday, July 31st. Citigroup lowered their target price on Lear from $243.00 to $234.00 and set a “buy” rating for the company in a report on Monday, July 30th. Longbow Research reaffirmed a “buy” rating and issued a $225.00 target price on shares of Lear in a report on Thursday, July 26th. Robert W. Baird upped their target price on Lear from $227.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, June 25th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lowered their target price on Lear from $209.00 to $198.00 and set a “neutral” rating for the company in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $204.28.

Shares of LEA stock opened at $146.69 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.44. Lear has a twelve month low of $146.35 and a twelve month high of $206.36. The firm has a market cap of $10.44 billion, a P/E ratio of 8.63 and a beta of 1.34.

Lear (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 26th. The auto parts company reported $4.95 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.04). Lear had a return on equity of 28.84% and a net margin of 6.31%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the company earned $4.39 earnings per share. Lear’s quarterly revenue was up 8.9% compared to the same quarter last year. research analysts expect that Lear will post 18.72 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after buying an additional 302,664 shares during the period. Bank of Montreal Can acquired a new stake in shares of Lear in the second quarter valued at about $266,584,000. Boston Partners increased its stake in shares of Lear by 36.6% in the second quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock valued at $254,274,000 after buying an additional 366,768 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lear by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 977,485 shares of the auto parts company’s stock valued at $181,649,000 after buying an additional 15,274 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in shares of Lear by 65.8% in the second quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock valued at $171,785,000 after buying an additional 366,915 shares during the period. 91.25% of the stock is owned by institutional investors and hedge funds.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.

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Analyst Recommendations for Lear (NYSE:LEA)

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