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Lear Corporation LEA recently announced that it has reached an agreement to obtain IGBauerhin (“IGB”), a private supplier of seat heating, ventilation, active cooling, steering wheel heating, seat sensors and electronic modules for automobiles. The acquisition, valued at 140 million euros, will be made in money and without debt. The transaction, subject to standard final conditions, is expected to close within the next six to nine months. This is the time when Lear acquires a thermal convenience response company. It promises to expand its active cooling product functions and complement its existing offerings. In February, Lear won almost the entire Interior Comfort Systems business unit of Kongsberg Automotive (Kongsberg).
The acquisition of IGB aims to position Lear as one of the leading providers of cutting-edge thermal solutions of convenience. Merging its industry-leading seating expertise and Kongsberg’s products and features with IGB’s cutting-edge generation will drive the commercialization of effective, high-quality solutions. High-performance seating systems and is in line with the priorities of Lear’s OEM customers.
Notably, IGB generated approximately €205 million in profits in 2021, and the acquisition will increase Lear’s profits and profits. Just a few days ago, Lear announced that it had acquired Thagora Technology SRL, a privately held company that specializes in hardware and software technologies for hardware use. Lear noted that the acquisition will give him access to intelligent, scalable production equipment that can be leveraged to drive innovation and quality. The acquisition of M
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LEA currently wears a Zacks #5 rank (strong sell). The top-ranked players in the automotive space come with BRP Group, Inc. DOOO, Genuine Parts Company GPC, and Standard Motor Products SMP, each with a Zacks rank of #2 (buy), currently. You can see the full list of today’s Zacks #1 (strong buy) rank inventories here. in the beyond 60 days. BRP Group earnings have beaten the Zacks Consensus Estimate for the last 4 quarters. DOOO has learned a wonder about the profits of the last 4 quarters of 68% on average. Inventory is down 15. 2% over the last year. Genuine Parts has a projected earnings expansion rate of 13% for the current year. The Zacks Consensus Estimate for current year earnings has been revised up by as much as 2. 5% over the last 60 days. Genuine Parts earnings have beaten the Zacks Consensus Estimate for the last 4 quarters. GPC has learned a wonder about earnings for the last 4 quarters of 11. 34% on average. Inventory has lost 2. 2% over the last year. Standard Motor has an expected earnings expansion rate of 1. 4% for the current year. The Zacks Consensus Estimate for current year earnings has been revised upwards by about 2% in the last 60 days. Standard Motor’s earnings have beaten the Zacks Consensus Estimate for the last 4 quarters. SMP learned a wonder about profits for the last 4 quarters of 40. 34% on average. Inventory has lost 15% over the last year.
Want the latest recommendations from Zacks Investment Research?Today you can download 7 movements for the next 30 days. Click for this free inventory analysis report from Standard Motor Products, Inc. (SMP): Lear Corporation. (READ) Free Inventory Analysis Report: BRP Inc. Free Inventory Analysis Report (DOOO): Free Stock Analysis Report To read this article in Zacks. com, click here. Zacks Investment Research