The stock of Lear Corporation (NYSE:LEA) reached all time high today, Nov, 24 and still has $138.99 target or 8.00% above today’s $128.69 share price. This indicates more upside for the $9.18B company. This technical setup was reported by Barchart.com. If the $138.99 PT is reached, the company will be worth $734.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock decreased 0.14% or $0.18 on November 23, hitting $128.69. About 531,575 shares traded hands. Lear Corporation (NYSE:LEA) has risen 14.12% since April 22, 2016 and is uptrending. It has outperformed by 8.71% the S&P500.
Analysts await Lear Corporation (NYSE:LEA) to report earnings on January, 26. They expect $3.44 earnings per share, up 7.50% or $0.24 from last year’s $3.2 per share. LEA’s profit will be $245.39M for 9.35 P/E if the $3.44 EPS becomes a reality. After $3.19 actual earnings per share reported by Lear Corporation for the previous quarter, Wall Street now forecasts 7.84% EPS growth.
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. Lear Corporation has been the topic of 25 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of Lear Corporation (NYSE:LEA) earned “Hold” rating by Deutsche Bank on Monday, October 26. Goldman Sachs maintained the stock with “Neutral” rating in Tuesday, May 3 report. Deutsche Bank upgraded Lear Corporation (NYSE:LEA) rating on Monday, July 27. Deutsche Bank has “Buy” rating and $122 price target. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, October 14 report. RBC Capital Markets maintained Lear Corporation (NYSE:LEA) rating on Thursday, October 27. RBC Capital Markets has “Sector Perform” rating and $127 price target. Zacks downgraded Lear Corporation (NYSE:LEA) on Tuesday, August 25 to “Buy” rating. The stock of Lear Corporation (NYSE:LEA) earned “Neutral” rating by Robert W. Baird on Tuesday, October 11. Bank of America downgraded the shares of LEA in a report on Tuesday, June 21 to “Neutral” rating. Citigroup maintained Lear Corporation (NYSE:LEA) on Tuesday, August 2 with “Buy” rating. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, April 28.
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 Q2 2016. Its down 0.11, from 1.05 in 2016Q1. The ratio dropped, 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.
Beacon Gru, a Texas-based fund reported 5,454 shares. Daiwa Secs Grp Inc has invested 0% of its portfolio in Lear Corporation (NYSE:LEA). The California-based Eqis Cap has invested 0.09% in Lear Corporation (NYSE:LEA). Moreover, Fund Mgmt Sa has 0.01% invested in Lear Corporation (NYSE:LEA) for 10,168 shares. State Street has invested 0.02% of its portfolio in Lear Corporation (NYSE:LEA). Gargoyle Invest Advisor holds 21,118 shares or 0.8% of its portfolio. Capstone Invest Advisors Ltd Liability Corporation holds 2,097 shares or 0% of its portfolio. Oregon Employees Retirement Fund has invested 0.03% of its portfolio in Lear Corporation (NYSE:LEA). Trust Department Mb Comml Bank N A has 0% invested in the company for 261 shares. The Illinois-based Monetta Financial has invested 0.28% in Lear Corporation (NYSE:LEA). Bnp Paribas Investment Prtn holds 0.1% of its portfolio in Lear Corporation (NYSE:LEA) for 115,053 shares. The North Carolina-based Wedge Capital Mngmt L Limited Partnership Nc has invested 0.19% in Lear Corporation (NYSE:LEA). Lucus Advsr reported 3,329 shares or 0.28% of all its holdings. Sei Investments last reported 99,353 shares in the company. The New Jersey-based Prudential Finance Inc has invested 0.03% in Lear Corporation (NYSE:LEA).
Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 2 sales for $254,813 net activity. Kunkel Jay K. sold 653 shares worth $75,957. Another trade for 1,500 shares valued at $178,856 was made by FOSTER JONATHAN F on Wednesday, September 28.
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: Prnewswire.com and their article: “Qualcomm and Lear Corporation Sign Commercial Wireless Electric Vehicle …” with publication date: July 27, 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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