Meritor, Inc. (MTOR) Given Average Recommendation of “Buy” by Brokerages
Shares of Meritor, Inc. (NYSE:MTOR) have been assigned an average recommendation of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.25.
A number of research analysts recently issued reports on MTOR shares. BidaskClub upgraded Meritor from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $23.00 target price on shares of Meritor in a report on Monday, September 4th. Zacks Investment Research raised Meritor from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, July 25th. UBS AG reaffirmed a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Meritor in a report on Thursday, August 3rd. Finally, ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the sale, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.87% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Meritor during the second quarter worth about $226,000. Verition Fund Management LLC acquired a new stake in shares of Meritor during the second quarter worth about $254,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Meritor during the second quarter worth about $1,452,000. Sterling Capital Management LLC acquired a new stake in shares of Meritor during the second quarter worth about $924,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Meritor by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.
Shares of Meritor (NYSE:MTOR) traded up 3.45% during midday trading on Friday, hitting $26.38. The company had a trading volume of 1,345,840 shares. The company has a 50-day moving average of $19.75 and a 200 day moving average of $17.46. Meritor has a 12 month low of $9.84 and a 12 month high of $26.50. The firm has a market capitalization of $2.34 billion, a PE ratio of 4.28 and a beta of 2.21.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. The firm had revenue of $920.00 million during the quarter, compared to analyst estimates of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. Meritor’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. On average, analysts expect that Meritor will post $1.70 EPS for the current fiscal year.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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