Lear Corp. (NYSE:LEA) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $70.00 price objective on the stock. UBS AG’s price objective would suggest a potential upside of 3.24% from the stock’s previous close. The analysts noted that the move was a valuation call.
Lear Corp. (NYSE: LEA) traded down 0.19% on Monday, hitting $67.67. Lear Corp. has a 1-year low of $35.45 and a 1-year high of $68.13. The stock’s 50-day moving average is currently $62.13. The company has a market cap of $5.792 billion and a price-to-earnings ratio of 5.13.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Friday, July 26th. The company reported $1.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.28. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts expect that Lear Corp. will post $5.43 EPS for the current fiscal year.
LEA has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Lear Corp. from $67.00 to $75.00 in a research note to investors on Wednesday, July 17th. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Lear Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 16th. They now have a $68.40 price target on the stock. Finally, analysts at Zacks upgraded shares of Lear Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, June 17th. They now have a $62.40 price target on the stock.
Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $68.44.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
