NEW YORK (TheStreet) -- Shares of Lear Corp. (LEA) are higher by 3.29% to $98.93 in early-morning trading on Friday after the company reported a 31% increase in adjusted earnings per share to $2.12 for the 2014 second quarter, compared to $1.62 per share for the year ago quarter.
The auto parts supplier posted an 11% increase in sales to $4.6 billion versus $4.1 billion for the 2013 second quarter.
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Separately, TheStreet Ratings team rates LEAR CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LEAR CORP (LEA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
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