Lear Corporation (LEA) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 136 from a previous price target of $124 . RBC Capital Mkts advised their investors in a research report released on Apr 28, 2016.
On the company’s financial health, Lear Corporation reported $3.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.63 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $2.77. The company had revenue of $4662.90 million for the quarter, compared to analysts expectations of $4705.02 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS.
Lear Corporation closed down -0.13 points or -0.11% at $116.01 with 16,38,291 shares getting traded on Wednesday. Post opening the session at $119.47, the shares hit an intraday low of $115.31 and an intraday high of $120 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 22, 2016, Mel Stephens (SVP Comm, Facilities & Inv Rel) sold 17,146 shares at $104.08 per share price. According to the SEC, on Feb 22, 2016, Matthew Simoncini (President & CEO) sold 123,162 shares at $104.08 per share price. On Feb 22, 2016, Raymond E Scott (EVP & President, Seating) sold 43,776 shares at $104.08 per share price, according to the Form-4 filing with the securities and exchange commission.
Lear Corporation is engaged in providing automotive seat systems and individual seat component parts. The Company has two segments: seating and electrical. The Company seating segment consists of the design development engineering assembly and delivery of complete seat systems. The Company is also involved in the design development engineering and manufacture of all seat components including seat structures and mechanisms seat covers and surface materials such as fabric and leather seat foam and headrests. The Company’s electrical segment consists of the design development engineering manufacture assembly and supply of electrical distribution systems and components for light vehicles. The Company has manufacturing engineering and administrative capabilities in about 34 countries with 219 locations. The Company also manufactures junction boxes and electronic control modules which are connected to the wire harness assemblies.