Meritor Inc (MTOR) Rating Increased to Strong-Buy at ValuEngine
Meritor Inc (NYSE:MTOR) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
A number of other analysts also recently commented on MTOR. Stifel Nicolaus set a $25.00 price target on shares of Meritor and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of Meritor in a research report on Thursday, August 3rd. Barclays PLC boosted their price target on shares of Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. BidaskClub upgraded shares of Meritor from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.50.
Meritor (NYSE MTOR) opened at 20.11 on Friday. The firm has a 50-day moving average of $18.46 and a 200-day moving average of $17.01. The stock has a market capitalization of $1.78 billion, a PE ratio of 3.26 and a beta of 2.22. Meritor has a one year low of $9.84 and a one year high of $20.44.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. The firm had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, equities research analysts forecast that Meritor will post $1.69 earnings per share for the current year.
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In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the sale, the senior vice president now directly owns 30,000 shares in the company, valued at approximately $576,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.87% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock worth $125,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank increased its stake in Meritor by 2.7% in the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after buying an additional 281 shares during the last quarter. Bank of Montreal Can increased its stake in Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock worth $196,000 after buying an additional 289 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Meritor by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock worth $1,065,000 after buying an additional 439 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Meritor by 3.5% in the second quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock worth $259,000 after buying an additional 528 shares during the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.
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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