Meritor (NYSE:MTOR) had its target price increased by KeyCorp from $25.00 to $30.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the auto parts company’s stock.

Several other research firms have also recently weighed in on MTOR. JPMorgan Chase & Co. raised their target price on shares of Meritor from $15.00 to $17.00 and gave the company a neutral rating in a research note on Friday, June 19th. Barclays raised their target price on shares of Meritor from $20.00 to $22.00 and gave the company an equal weight rating in a research note on Friday, July 24th. TheStreet raised shares of Meritor from a c+ rating to a b- rating in a research note on Friday, July 17th. Longbow Research raised their target price on shares of Meritor from $20.00 to $23.00 and gave the company a buy rating in a research note on Friday, May 1st. Finally, Zacks Investment Research lowered shares of Meritor from a hold rating to a strong sell rating and set a $24.00 price objective for the company. in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Meritor presently has a consensus rating of Hold and a consensus target price of $23.44.

Shares of NYSE MTOR traded down $0.35 during midday trading on Thursday, reaching $22.75. The stock had a trading volume of 965,746 shares, compared to its average volume of 626,344. The stock has a 50-day moving average of $20.55 and a 200-day moving average of $19.97. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.08 and a current ratio of 1.88. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 6.17 and a beta of 2.45. Meritor has a 12-month low of $10.91 and a 12-month high of $27.18.

Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.01). The firm had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $459.25 million. Meritor had a return on equity of 35.42% and a net margin of 8.63%. The business’s revenue for the quarter was down 55.9% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. As a group, analysts forecast that Meritor will post 0.6 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Kendall Capital Management lifted its holdings in shares of Meritor by 3.1% in the 2nd quarter. Kendall Capital Management now owns 19,715 shares of the auto parts company’s stock worth $390,000 after acquiring an additional 600 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of Meritor by 1.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 321,358 shares of the auto parts company’s stock worth $6,363,000 after acquiring an additional 4,629 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Meritor in the 2nd quarter worth about $449,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Meritor by 44.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,771 shares of the auto parts company’s stock worth $174,000 after acquiring an additional 2,680 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Meritor by 94.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,626 shares of the auto parts company’s stock valued at $686,000 after buying an additional 16,824 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

About Meritor

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

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Analyst Recommendations for Meritor (NYSE:MTOR)

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