What’s Ahead for Lear Corporation (LEA) After Forming Bullish Double Top Chart Pattern?

April 20, 2018 - By Clifton Ray

Lear Corporation (NYSE:LEA) Logo

Investors sentiment increased to 0.96 in Q4 2017. Its up 0.04, from 0.92 in 2017Q3. It is positive, as 26 investors sold Lear Corporation shares while 172 reduced holdings. 50 funds opened positions while 141 raised stakes. 58.04 million shares or 3.12% less from 59.92 million shares in 2017Q3 were reported.
Smith Graham And Co Inv L P invested in 37,650 shares or 0.63% of the stock. Virginia Retirement Systems Et Al, a Virginia-based fund reported 136,000 shares. Tocqueville Asset Management Limited Partnership invested 0% of its portfolio in Lear Corporation (NYSE:LEA). Us Savings Bank De reported 13,921 shares. Amer Century Companies accumulated 41,153 shares. Fjarde Ap reported 26,050 shares. Bluecrest Capital Mgmt stated it has 0.08% of its portfolio in Lear Corporation (NYSE:LEA). Metropolitan Life Insurance Co reported 0.01% in Lear Corporation (NYSE:LEA). Parametric Portfolio Associates Ltd Liability invested 0.08% of its portfolio in Lear Corporation (NYSE:LEA). Keybank Natl Association Oh holds 4,799 shares or 0% of its portfolio. First Mercantile Trust, Tennessee-based fund reported 4,336 shares. Richard Bernstein Lc stated it has 2,234 shares or 0.02% of all its holdings. Massachusetts-based Cadence Llc has invested 0.15% in Lear Corporation (NYSE:LEA). Moreover, Maverick Cap Limited has 0.1% invested in Lear Corporation (NYSE:LEA) for 43,950 shares. Daiwa Grp has invested 0.01% in Lear Corporation (NYSE:LEA).

Since February 16, 2018, it had 0 insider buys, and 10 selling transactions for $46.04 million activity. 6,694 shares were sold by Kunkel Jay K., worth $1.27 million on Friday, February 16. Another trade for 100,000 shares valued at $19.01M was sold by Simoncini Matthew. 1,000 shares were sold by RUNKLE DONALD L, worth $190,671. DiDonato Thomas A had sold 21,415 shares worth $4.07M. Vanneste Jeffrey H. also sold $3.88M worth of Lear Corporation (NYSE:LEA) shares. BURGESS SHARI L sold $1.02M worth of Lear Corporation (NYSE:LEA) on Friday, February 16.

The chart of Lear Corporation (LEA) shows a double top with $198.12 target or 3.00 % above today’s $192.35 share price. The 6 months chart pattern indicates low risk for the $12.75B company. It was reported on Apr, 20 by Finviz.com. If the $198.12 price target is reached, the company will be worth $382.44M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.19% or $0.36 during the last trading session, reaching $192.35. About 192,158 shares traded. Lear Corporation (NYSE:LEA) has risen 33.95% since April 20, 2017 and is uptrending. It has outperformed by 22.40% the S&P500.

Analysts await Lear Corporation (NYSE:LEA) to report earnings on April, 26 before the open. They expect $4.89 EPS, up 14.52 % or $0.62 from last year’s $4.27 per share. LEA’s profit will be $324.08 million for 9.83 P/E if the $4.89 EPS becomes a reality. After $4.38 actual EPS reported by Lear Corporation for the previous quarter, Wall Street now forecasts 11.64 % EPS growth.

Lear Corporation (NYSE:LEA) Ratings Coverage

Among 13 analysts covering Lear (NYSE:LEA), 8 have Buy rating, 0 Sell and 5 Hold. Therefore 62% are positive. Lear had 23 analyst reports since October 26, 2017 according to SRatingsIntel. Deutsche Bank maintained the stock with “Hold” rating in Thursday, October 26 report. As per Tuesday, January 23, the company rating was maintained by Robert W. Baird. The stock has “Hold” rating by Guggenheim on Monday, January 8. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Monday, November 13. The stock of Lear Corporation (NYSE:LEA) earned “Neutral” rating by Guggenheim on Thursday, October 26. The rating was maintained by Susquehanna on Wednesday, March 14 with “Hold”. The firm has “Buy” rating given on Tuesday, October 31 by Jefferies. The stock of Lear Corporation (NYSE:LEA) has “Buy” rating given on Thursday, January 18 by Cowen & Co. Citigroup maintained the shares of LEA in report on Wednesday, February 14 with “Buy” rating. On Friday, January 26 the stock rating was maintained by Cowen & Co with “Buy”.

Lear Corporation (NYSE:LEA) Institutional Positions Chart

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