Meritor Inc. (MTOR) Receives Consensus Recommendation of “Hold” from Brokerages
Meritor Inc. (NYSE:MTOR) has received a consensus rating of “Hold” from the seven analysts that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $9.20.
Several brokerages have recently issued reports on MTOR. Zacks Investment Research upgraded shares of Meritor from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Piper Jaffray Cos. cut shares of Meritor from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $6.50 to $6.00 in a research note on Tuesday, June 28th. Citigroup Inc. increased their price target on shares of Meritor from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Longbow Research set a $14.00 price target on shares of Meritor and gave the stock a “buy” rating in a research note on Tuesday, August 23rd.
Shares of Meritor (NYSE:MTOR) traded up 1.7077% during mid-day trading on Wednesday, hitting $11.3099. 173,959 shares of the stock traded hands. The firm’s 50 day moving average price is $10.93 and its 200 day moving average price is $9.06. The firm has a market cap of $981.28 million, a price-to-earnings ratio of 13.7256 and a beta of 2.53. Meritor has a 12-month low of $5.69 and a 12-month high of $11.70.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. Meritor had a net margin of 2.35% and a negative return on equity of 25.32%. The business earned $841 million during the quarter, compared to analysts’ expectations of $841.79 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts predict that Meritor will post $1.60 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in MTOR. Springbok Capital Management LLC increased its position in shares of Meritor by 8.7% in the first quarter. Springbok Capital Management LLC now owns 12,500 shares of the company’s stock worth $101,000 after buying an additional 1,000 shares during the last quarter. AHL Partners LLP purchased a new position in shares of Meritor during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA increased its position in shares of Meritor by 55.9% in the third quarter. BNP Paribas Arbitrage SA now owns 9,835 shares of the company’s stock worth $109,000 after buying an additional 3,526 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Meritor during the second quarter worth approximately $122,000. Finally, Princeton Alpha Management LP purchased a new position in shares of Meritor during the second quarter worth approximately $127,000. Institutional investors own 90.92% of the company’s stock.
Meritor Company Profile
Meritor, Inc is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial, and aftermarket and trailer.
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