The stock of Lear Corporation (NYSE:LEA) hit a new 52-week high and has $155.21 target or 22.00% above today’s $127.22 share price. The 6 months bullish chart indicates low risk for the $9.22B company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $155.21 price target is reached, the company will be worth $2.03 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 36,199 shares traded hands. Lear Corporation (NYSE:LEA) has risen 15.87% since April 18, 2016 and is uptrending. It has outperformed by 11.44% the S&P500.
Lear Corporation (NYSE:LEA) Ratings Coverage
Out of 11 analysts covering Lear Corporation (NYSE:LEA), 3 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 27% are positive. $153 is the highest target while $111 is the lowest. The $129 average target is 1.40% above today’s ($127.22) stock price. Lear Corporation has been the topic of 25 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Tuesday, June 21 the stock rating was downgraded by Bank of America to “Neutral”. The stock of Lear Corporation (NYSE:LEA) earned “Neutral” rating by Goldman Sachs on Tuesday, May 3. As per Friday, October 14, the company rating was downgraded by RBC Capital Markets. Deutsche Bank upgraded the stock to “Buy” rating in Monday, July 27 report. The stock of Lear Corporation (NYSE:LEA) has “Underperform” rating given on Wednesday, November 9 by Bank of America. UBS upgraded Lear Corporation (NYSE:LEA) on Tuesday, August 18 to “Buy” rating. The rating was maintained by RBC Capital Markets on Thursday, October 27 with “Sector Perform”. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, October 14 report. The rating was maintained by Citigroup with “Buy” on Tuesday, August 2. The stock of Lear Corporation (NYSE:LEA) has “Outperform” rating given on Thursday, April 28 by RBC Capital Markets.
According to Zacks Investment Research, “Lear Corporation is a leading global supplier of automotive seating systems, electrical distribution systems and electronics. The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. Lear Corporation is headquartered in Southfield, Michigan.”
Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.11, from 1.05 in 2016Q1. The ratio turned negative, as 33 funds sold all Lear Corporation shares owned while 169 reduced positions. 50 funds bought stakes while 162 increased positions. They now own 65.88 million shares or 12.31% less from 75.13 million shares in 2016Q1.
Pine River Capital Mgmt L P has 9,700 shares for 0.01% of their US portfolio. Highland Cap Ltd Liability reported 4,568 shares or 0.04% of all its holdings. Balyasny Asset Mngmt Limited, a Illinois-based fund reported 3,252 shares. Eidelman Virant Cap last reported 7,370 shares in the company. Chicago Equity Partners Ltd Liability owns 58,640 shares or 0.17% of their US portfolio. Beacon Finance Group Incorporated accumulated 0.12% or 5,454 shares. Point72 Asset Management L P holds 0.02% or 25,000 shares in its portfolio. Mu Invests Limited reported 1,290 shares or 0.09% of all its holdings. Stifel has invested 0.01% of its portfolio in Lear Corporation (NYSE:LEA). Checchi Advisers Limited Company has 1,023 shares for 0.01% of their US portfolio. Ftb holds 0% or 34 shares in its portfolio. Ameriprise Incorporated, a Minnesota-based fund reported 108,019 shares. Pnc Services last reported 11,583 shares in the company. Origin Asset Mngmt Limited Liability Partnership has invested 1.99% of its portfolio in Lear Corporation (NYSE:LEA). Bridgeway Mgmt holds 0.6% or 382,438 shares in its portfolio.
Insider Transactions: Since May 19, 2016, the stock had 0 insider purchases, and 2 selling transactions for $254,813 net activity. $178,856 worth of Lear Corporation (NYSE:LEA) was sold by FOSTER JONATHAN F. Kunkel Jay K. also sold $75,957 worth of Lear Corporation (NYSE:LEA) shares. The insider SMITH GREG C sold 1,000 shares worth $113,953.
More important recent Lear Corporation (NYSE:LEA) news were published by: Forbes.com which released: “How China Is A Major Boost For Lear Corporation Right Now” on November 15, 2016, also Prnewswire.com published article titled: “Lear Corporation Inducted Into The Billion Dollar Roundtable”, Forbes.com published: “What Will Be The Jump In Lear’s Valuation If Seating Margin Expands By More …” on September 22, 2016. More interesting news about Lear Corporation (NYSE:LEA) was released by: Equitiesfocus.com and their article: “Lear Corporation (NYSE:LEA) Short-Term Price Target At $138.14” with publication date: November 18, 2016.
LEA Company Profile
Lear Corporation (Lear), incorporated on January 13, 1987, is a supplier to the global automotive industry. The Firm is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Firm operates through two divisions: seating and electrical. It has over 240 manufacturing, engineering and administrative locations in approximately 40 countries. It has automotive content on over 350 vehicle nameplates across the world.
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