Today’s Stock On Watch: What Next for Lear Corporation Stock After Reaching 52-Week High?

Today's Stock On Watch: What Next for Lear Corporation Stock After Reaching 52 Week High?

The stock of Lear Corporation (NYSE:LEA) hit a new 52-week high and has $135.64 target or 3.00% above today’s $131.69 share price. The 8 months bullish chart indicates low risk for the $9.35 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $135.64 price target is reached, the company will be worth $280.50M 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 486,302 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 EPS, up 7.50% or $0.24 from last year’s $3.2 per share. LEA’s profit will be $244.24M for 9.57 P/E if the $3.44 EPS becomes a reality. After $3.19 actual EPS 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. Robert W. Baird initiated it with “Neutral” rating and $133 target price in Tuesday, October 11 report. RBC Capital Markets maintained the shares of LEA in a report on Monday, October 26 with “Outperform” rating. UBS upgraded Lear Corporation (NYSE:LEA) on Tuesday, August 18 to “Buy” rating. The firm has “Buy” rating given on Monday, July 27 by Deutsche Bank. The company was downgraded on Wednesday, November 9 by Bank of America. The firm earned “Neutral” rating on Tuesday, August 9 by Seaport Global. The rating was downgraded by Deutsche Bank on Monday, October 26 to “Hold”. As per Friday, October 14, the company rating was downgraded by RBC Capital Markets. Goldman Sachs maintained the shares of LEA in a report on Tuesday, May 3 with “Neutral” rating. Barclays Capital maintained it with “Equal Weight” rating and $116 target price in Monday, January 25 report.

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 fall, 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.
Moreover, Advisory Networks Ltd Liability Com has 0.01% invested in Lear Corporation (NYSE:LEA) for 321 shares. Envestnet Asset has invested 0.02% of its portfolio in Lear Corporation (NYSE:LEA). The Illinois-based Tru Department Mb Finance Comml Bank N A has invested 0% in Lear Corporation (NYSE:LEA). Glg Prtn Lp, a United Kingdom-based fund reported 9,652 shares. Ameriprise Financial, a Minnesota-based fund reported 108,019 shares. Kcg Holdg Inc accumulated 28,165 shares or 0.06% of the stock. Eagle Asset Mgmt Incorporated accumulated 53,043 shares or 0.04% of the stock. The North Carolina-based Wedge Cap Management L L P Nc has invested 0.19% in Lear Corporation (NYSE:LEA). Aston Asset Mgmt Ltd Liability Corp, a Illinois-based fund reported 12,476 shares. Quantbot Tech L P has invested 0.36% of its portfolio in Lear Corporation (NYSE:LEA). The Connecticut-based Quantitative Systematic Strategies Limited Company has invested 0.37% in Lear Corporation (NYSE:LEA). Hl Limited Liability has invested 0.01% of its portfolio in Lear Corporation (NYSE:LEA). Td Asset Management last reported 4,900 shares in the company. Pitcairn Company accumulated 0.11% or 8,263 shares. California State Teachers Retirement Sys accumulated 0.03% or 157,020 shares.

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 1 sale for $178,856 net activity. Kunkel Jay K. had sold 653 shares worth $75,957 on Friday, June 3. 1,500 Lear Corporation (NYSE:LEA) shares with value of $178,856 were sold by FOSTER JONATHAN F.

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 Opens New Innovation Center in Detroit”, Prnewswire.com published: “Lear Corporation Inducted Into The Billion Dollar Roundtable” on August 19, 2016. More interesting news about Lear Corporation (NYSE:LEA) was released by: Forbes.com and their article: “What Will Be The Jump In Lear’s Valuation If Seating Margin Expands By More …” with publication date: September 22, 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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