Lear Co. (NYSE:LEA) Receives Average Recommendation of “Moderate Buy” from Analysts

Lear Co. (NYSE:LEA) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $160.33.

A number of equities research analysts have weighed in on the company. UBS Group lowered their target price on Lear from $146.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays lowered their price objective on shares of Lear from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Morgan Stanley lifted their price target on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Citigroup dropped their price target on Lear from $145.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Lear Stock Up 0.4 %

Lear stock opened at $127.15 on Tuesday. The firm has a 50 day moving average price of $138.07 and a two-hundred day moving average price of $135.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.04 and a current ratio of 1.33. Lear has a 52-week low of $117.79 and a 52-week high of $157.90. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.31 and a beta of 1.55.

Lear (NYSE:LEA) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14. Lear had a net margin of 2.28% and a return on equity of 14.47%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Lear will post 14.47 EPS for the current year.

Lear Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Thursday, March 7th. Lear’s payout ratio is currently 33.59%.

Insiders Place Their Bets

In other Lear news, CFO Jason M. Cardew sold 2,750 shares of Lear stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total transaction of $387,227.50. Following the transaction, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $132.86, for a total value of $1,415,224.72. Following the transaction, the chief executive officer now directly owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $140.81, for a total transaction of $387,227.50. Following the sale, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lear

Several institutional investors have recently bought and sold shares of LEA. Riverview Trust Co bought a new stake in shares of Lear in the first quarter valued at $32,000. Signaturefd LLC raised its stake in Lear by 32.3% in the 4th quarter. Signaturefd LLC now owns 373 shares of the auto parts company’s stock valued at $53,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC bought a new stake in Lear in the 4th quarter valued at about $56,000. Covestor Ltd lifted its holdings in Lear by 131.9% during the third quarter. Covestor Ltd now owns 443 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 252 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Lear during the first quarter worth about $62,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

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.