Barclays PLC Reiterates $11.00 Price Target for Meritor Inc. (MTOR)
Meritor Inc. (NYSE:MTOR) has been given a $11.00 target price by analysts at Barclays PLC in a report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Barclays PLC’s price target points to a potential downside of 15.19% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Longbow Research set a $14.00 price target on shares of Meritor and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Zacks Investment Research raised shares of Meritor from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Citigroup Inc. upped their price target on shares of Meritor from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.80.
Meritor (NYSE:MTOR) traded down 0.08% during trading on Wednesday, hitting $12.97. 489,881 shares of the company traded hands. Meritor has a 52 week low of $5.69 and a 52 week high of $13.13. The stock has a market capitalization of $1.15 billion, a PE ratio of 2.17 and a beta of 2.37. The company’s 50 day moving average is $11.11 and its 200-day moving average is $9.73.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, November 16th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.06. The company had revenue of $728 million for the quarter, compared to the consensus estimate of $747.98 million. Meritor had a net margin of 17.22% and a negative return on equity of 24.49%. Meritor’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Analysts predict that Meritor will post $1.35 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of MTOR. Springbok Capital Management LLC boosted its position in 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 bought a new position in Meritor during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA boosted its position in 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 bought a new position in Meritor during the second quarter worth approximately $122,000. Finally, Bank of Montreal Can boosted its position in Meritor by 71.6% in the third quarter. Bank of Montreal Can now owns 11,137 shares of the company’s stock worth $124,000 after buying an additional 4,646 shares during the last quarter. Hedge funds and other institutional investors own 88.83% of the company’s stock.
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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