An Analysis of Lear Corporation (LEA)’s Potential Price Growth


Lear Corporation’s recently made public that its President and CEO SCOTT RAYMOND E unloaded Company’s shares for reported $0.86 million on Jan 04. In the deal valued at $127.68 per share,6,697 shares were sold. As a result of this transaction, SCOTT RAYMOND E now holds 16,740 shares worth roughly $ 2.26 million.

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Then, SCOTT RAYMOND E sold 6,142 shares, generating $783,658 in total proceeds. Upon selling the shares at $127.59, the President and CEO now owns 16,740 shares.

Before that, SCOTT RAYMOND E sold 500 shares. Lear Corporation shares valued at $69,225 were divested by the President and CEO at a price of $138.45 per share. As a result of the transaction, SCOTT RAYMOND E now holds 22,882 shares, worth roughly $3.09 million.

Wells Fargo downgraded its Lear Corporation [LEA] rating to an Equal weight from a an Overweight in a research note published on Tuesday, December 14, 2022; the price target was decreased to $139 from $149. PT values the company’s stock at a premium of 2.92 to its Tuesday closing price. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who increased its forecast for the stock in mid July from “an Underperform” to “a Neutral”. Wells Fargo also remained covering LEA and has increased its forecast on June 07, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating. Exane BNP Paribas started covering the stock on April 11, 2022. It rated LEA as “an Underperform”.

Price Performance Review of LEA

On Tuesday, Lear Corporation [NYSE:LEA] saw its stock fall -2.65% to $134.94. On the same session, the stock had its day’s lowest price of $133.09, but rose to a high of $137.77. Over the last five days, the stock has lost -1.38%. Lear Corporation shares have risen nearly 8.81% since the year began. Nevertheless, the stocks have fallen -20.89% over the past one year. While a 52-week high of $176.80 was reached on 01/23/23, a 52-week low of $114.67 was recorded on 01/03/23. SMA at 50 days reached $134.52, while 200 days put it at $134.15. A total of 0.54 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For LEA Stock

The 24-hour chart illustrates a support level at 132.76, which if violated will result in even more drops to 130.59. On the upside, there is a resistance level at 137.44. A further resistance level may holdings at 139.95. The Relative Strength Index (RSI) on the 14-day chart is 53.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.14, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 38.01%. Stochastics %K at 78.00% indicates the stock is a holding.

How much short interest is there in Lear Corporation?

A steep rise in short interest was recorded in Lear Corporation stocks on Oct 13, 2022, growing by 0.15 million shares to a total of 1.84 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 1.69 million shares. There was a rise of 8.15%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.57% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.6.

Lear Corporation [LEA] – Who Are The Largest Shareholders?

In filings from Pzena Investment Management LLC, it is revealed that the company now owns 6,865,532 shares, or roughly 11.62% of the outstanding LEA shares. In other words, the investor’s shares have risen by 1,383 from its previous 13-F filing of 6864149.0. Additionally, The Vanguard Group, Inc. increased 0.39% of its stake after which the total value it holdings stand at $684,714,668, while BlackRock Fund Advisors added 2.92% of its stake to hold $635.98 million in the firm. Over the last quarter, Harris Associates LP sold -261,423 shares of Lear Corporation, while SSgA Funds Management, Inc. sold 25,127 shares. At present, Massachusetts Financial Services is holding 2,105,204 shares valued at $261.09 million. Allspring Global Investments LLC owned 1,954,057 shares of the company at the time of its most recent 13F filing, worth $242.34 million.

According to FactSet, Lear Corporation’s share price will average $152.45 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.77 percent from its previous closing price of $138.61. Analysts expect Lear Corporation stock to reach the higher price of $180.00, while the lowest price estimate is $133.00. However, 19 analysts have rated LEA stock as an Overweight in their predictions for 2023.


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