Lear Corporation (LEA) : Traders are bullish on Lear Corporation (LEA) as it has outperformed the S&P 500 by a wide margin of 0.72% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.47%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.44% in the last 1 week, and is up 1.1% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Lear Corp. is up 0.71% in the last 3-month period. Year-to-Date the stock performance stands at -6.06%. The stock has recorded a 20-day Moving Average of 1.24% and the 50-Day Moving Average is 3.37%.
Lear Corporation (NYSE:LEA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $113.00 and $112.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $114.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $114.75, notching a gain of 1.00% for the day. The total traded volume was 471,784 . The stock had closed at $113.61 on the previous day.
Also, Seaport Global initiates coverage on Lear Corporation (NYSE:LEA) The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on August 9, 2016.
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 Companys 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.