The stock of Lear Corporation (NYSE:LEA) reached all time high today, Dec, 1 and still has $138.14 target or 4.00% above today’s $132.83 share price. This indicates more upside for the $9.43B company. This technical setup was reported by Barchart.com. If the $138.14 PT is reached, the company will be worth $377.20M 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. About 121,361 shares traded hands. Lear Corporation (NYSE:LEA) has risen 12.18% since April 28, 2016 and is uptrending. It has outperformed by 6.25% 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 $244.22M for 9.65 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. RBC Capital Markets maintained it with “Outperform” rating and $138 target price in Monday, October 26 report. The company was maintained on Thursday, October 27 by RBC Capital Markets. On Thursday, April 28 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Lear Corporation (NYSE:LEA) earned “Underperform” rating by Bank of America on Wednesday, November 9. The firm has “Buy” rating by UBS given on Tuesday, August 18. The firm earned “Sell” rating on Thursday, October 6 by Goldman Sachs. The rating was downgraded by Bank of America to “Neutral” on Tuesday, June 21. The rating was downgraded by Zacks to “Buy” on Tuesday, August 25. On Monday, October 26 the stock rating was downgraded by Deutsche Bank to “Hold”. Deutsche Bank upgraded Lear Corporation (NYSE:LEA) rating on Monday, July 27. Deutsche Bank has “Buy” rating and $122 price target.
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.
Royal London Asset Mgmt Limited last reported 0.04% of its portfolio in the stock. Moreover, Public Employees Retirement Association Of Colorado has 0.01% invested in Lear Corporation (NYSE:LEA) for 15,994 shares. Blackrock Advisors Ltd Liability Co reported 1.94M shares or 0.2% of all its holdings. Seizert Cap Ltd Liability Company has 63,458 shares for 0.24% of their US portfolio. Blackrock Incorporated accumulated 223,918 shares or 0.03% of the stock. Capital Guardian Tru has invested 0% of its portfolio in Lear Corporation (NYSE:LEA). Putnam Invests Limited Liability Company holds 0.04% of its portfolio in Lear Corporation (NYSE:LEA) for 171,980 shares. Camarda Finance Ltd Liability Corporation holds 0.8% of its portfolio in Lear Corporation (NYSE:LEA) for 12,399 shares. Sandy Spring Comml Bank last reported 0% of its portfolio in the stock. Old National Bank In reported 3,464 shares or 0.02% of all its holdings. Schwab Charles Investment Management holds 0.11% or 822,281 shares in its portfolio. Amalgamated Bank & Trust has invested 0.08% of its portfolio in Lear Corporation (NYSE:LEA). The Pennsylvania-based Twin Capital Mngmt Incorporated has invested 0.31% in Lear Corporation (NYSE:LEA). Paradice Inv Ltd Com, a Colorado-based fund reported 396,134 shares. First Midwest Bankshares Tru Division accumulated 0.14% or 11,505 shares.
Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 1 insider sale for $178,856 net activity. $75,957 worth of shares were sold by Kunkel Jay K. on Friday, June 3. FOSTER JONATHAN F sold $178,856 worth of stock or 1,500 shares.
More 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 the news titled: “Lear Corporation Opens New Innovation Center in Detroit” on October 18, 2016. Prnewswire.com‘s news article titled: “Lear Corporation Inducted Into The Billion Dollar Roundtable” with publication date: August 19, 2016 was also an interesting one.
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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