The stock of Lear Corporation (NYSE:LEA) is now priced at $105.67 and the shares are -1.11 points down or -1.04% lower compared to its previous closing price of $106.78. The stock had 294438 contracts set over the past session. LEA shares’ daily volume is compared to its average trading volume at 609130 shares. However, it has a float of 59.77 million and although its performance was -1.03% over the week, it’s one to watch. Analysts have given the LEA stock a yearly average price target of $122 per share. It means the stock’s upside potential is 15.45% with the LEA share price recently placing at $106.62 to $108.49. However, some brokerage firms have priced the stock below the average, including one that has called $86.
The shorts are running away from the Lear Corporation stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the LEA shares have declined. Short interest in the stock represents just 3.08% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Lear Corporation (NYSE:LEA) dropped by -$3.35 over the week and lost -$15.81 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $143.5. The stock recorded its established 52-week high on 12/20/19.
Since 03/19/20, the stock has traded to a low of $63.2 at 67.2%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.65. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Lear Corporation’s two-week RSI is 45.76. This suggests that the stock is neutral at the moment and that LEA shares’ price movement remains stable. The stochastic readings are equally revealing at 24.74% meaning the LEA share price is currently in overbought territory.
The technical chart shows that the LEA stock will likely settle at between $107.65 and $109.63 per share. However, if the stock dips below $104.24, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $102.81.
Currently, the stock is trading in the red of MACD, with a reading of -0.12. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Credit Suisse raised their recommendation for LEA from Neutral to Outperform in April 27 review while maintain their target price of $130 to $120. Robert W. Baird analysts upgraded their recommendation of the stock from Neutral to Outperform while keeping its target price at $135 to $111 in a flash note released to investors on April 24. Goldman analysts see the stock as Neutral when the analysts initiated the share price coverage on April 15, placing it at $88.
The average rating for the LEA equity is 2.37 and is currently gathering a bullish momentum. Of 19 analysts tracking Lear Corporation polled by Reuters, 9 rated LEA as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the LEA stock price is 9.53X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 10.4below the group’s average of 27.9. Lear Corporation has its P/E ratio at 1.6, which means that the stock is currently trading at a discount relative to the 1.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Lear Corporation (NYSE:LEA) will decrease by about -49.98%, which will see them reach $2230 million. The company’s full-year revenues are, however, expected to diminish by about -20.19%, down from $19810 million to $15810 million. LEA’s expected adjusted earnings should drop almost -212.43% to end up at -$4.25 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -77.48% to record $3.15/share.