Lear (NYSE:LEA) Lowered to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of Lear (NYSE:LEA) from a buy rating to a hold rating in a research note issued to investors on Monday, Price Targets.com reports. They currently have $171.00 price target on the auto parts company’s stock, down from their previous price target of $200.00.

A number of other analysts have also weighed in on LEA. Royal Bank of Canada cut their price objective on Lear from $216.00 to $210.00 and set an outperform rating on the stock in a research report on Monday, August 9th. Cowen lowered their target price on shares of Lear from $215.00 to $212.00 and set an outperform rating for the company in a research note on Monday, August 9th. Wells Fargo & Company lowered their target price on shares of Lear from $203.00 to $199.00 and set an overweight rating for the company in a research note on Friday, September 10th. Barclays lowered their target price on shares of Lear from $187.00 to $183.00 and set an equal weight rating for the company in a research note on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lear from $198.00 to $188.00 and set a hold rating for the company in a research note on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $193.00.

Lear stock opened at $147.19 on Monday. Lear has a twelve month low of $103.35 and a twelve month high of $204.91. The stock’s fifty day simple moving average is $163.67 and its 200-day simple moving average is $176.30. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $8.79 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.30 and a beta of 1.53.

Lear (NYSE:LEA) last posted its quarterly earnings data on Thursday, August 5th. The auto parts company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.02). Lear had a return on equity of 17.71% and a net margin of 3.73%. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted ($4.14) EPS. The firm’s revenue was up 94.7% compared to the same quarter last year. Sell-side analysts predict that Lear will post 11.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 21st. Investors of record on Thursday, September 2nd will be issued a dividend of $0.50 per share. This is a boost from Lear’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, September 1st. Lear’s dividend payout ratio is currently 37.52%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cigna Investments Inc. New increased its holdings in Lear by 3.0% in the first quarter. Cigna Investments Inc. New now owns 2,037 shares of the auto parts company’s stock valued at $370,000 after buying an additional 60 shares in the last quarter. Huntington National Bank increased its holdings in Lear by 61.9% in the second quarter. Huntington National Bank now owns 191 shares of the auto parts company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in Lear by 6.0% in the first quarter. Kestra Advisory Services LLC now owns 1,391 shares of the auto parts company’s stock valued at $252,000 after buying an additional 79 shares in the last quarter. Creative Planning increased its stake in shares of Lear by 5.2% during the 2nd quarter. Creative Planning now owns 1,640 shares of the auto parts company’s stock worth $287,000 after purchasing an additional 81 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Lear by 1.8% during the 1st quarter. Commerce Bank now owns 4,750 shares of the auto parts company’s stock worth $861,000 after purchasing an additional 84 shares in the last quarter. 95.77% of the stock is owned by hedge funds and other institutional investors.

Lear Company Profile

Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.

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Analyst Recommendations for Lear (NYSE:LEA)

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