Lear (NYSE:LEA) Stock Price Up 6.3%

Lear Co. (NYSE:LEA)’s stock price rose 6.3% on Friday . The company traded as high as $117.92 and last traded at $117.07, approximately 636,447 shares were traded during mid-day trading. A decline of 2% from the average daily volume of 646,880 shares. The stock had previously closed at $110.10.

LEA has been the subject of a number of analyst reports. Credit Suisse Group decreased their price objective on shares of Lear from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Buckingham Research cut shares of Lear from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $180.00 to $140.00 in a research report on Wednesday, July 17th. TheStreet cut shares of Lear from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Royal Bank of Canada cut shares of Lear from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $135.00 in a research report on Wednesday, July 17th. Finally, Citigroup decreased their price objective on shares of Lear from $144.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Lear currently has an average rating of “Hold” and an average target price of $153.60.

The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 2.97 and a beta of 1.48. The business’s 50 day moving average price is $115.46 and its 200-day moving average price is $129.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.34.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $5.03 billion. Lear had a net margin of 4.38% and a return on equity of 23.18%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.95 EPS. On average, analysts forecast that Lear Co. will post 14.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Thursday, August 29th were paid a $0.75 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.56%. Lear’s dividend payout ratio (DPR) is presently 16.47%.

Institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. acquired a new stake in Lear during the second quarter worth about $26,000. Meridian Wealth Management LLC acquired a new stake in Lear during the first quarter worth about $28,000. NEXT Financial Group Inc raised its stake in Lear by 64.8% during the second quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock worth $59,000 after acquiring an additional 166 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Lear during the second quarter worth about $75,000. Finally, Private Ocean LLC acquired a new stake in Lear during the second quarter worth about $77,000. Institutional investors and hedge funds own 89.20% of the company’s stock.

About Lear (NYSE:LEA)

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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