Brokerages Set Meggitt plc (LON:MGGT) Target Price at GBX 331.64
Shares of Meggitt plc (LON:MGGT) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is GBX 330.73 ($4.07).
MGGT has been the topic of several analyst reports. Redburn Partners downgraded shares of Meggitt to a “neutral” rating in a report on Wednesday, March 18th. Credit Suisse Group cut their price target on shares of Meggitt from GBX 270 ($3.32) to GBX 240 ($2.95) and set an “underperform” rating on the stock in a report on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price objective on shares of Meggitt from GBX 275 ($3.38) to GBX 265 ($3.26) and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley reissued an “overweight” rating and issued a GBX 382 ($4.70) price objective on shares of Meggitt in a research report on Thursday, June 11th. Finally, Societe Generale cut shares of Meggitt to a “sell” rating and lowered their price objective for the company from GBX 610 ($7.51) to GBX 205 ($2.52) in a research report on Friday, April 24th.
In other Meggitt news, insider Alison Goligher purchased 3,000 shares of the stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of GBX 289 ($3.56) per share, with a total value of £8,670 ($10,669.46). Also, insider Caroline Silver purchased 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average cost of GBX 303 ($3.73) per share, with a total value of £15,150 ($18,643.86). Insiders bought a total of 33,103 shares of company stock valued at $8,687,128 in the last ninety days.
Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.
See Also: Asset Allocation
Receive News & Ratings for Meggitt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meggitt and related companies with MarketBeat.com's FREE daily email newsletter.