Research analysts at Buckingham Research began coverage on shares of Meritor, Inc. (NYSE:MTOR) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $25.00 price target on the auto parts company’s stock. Buckingham Research’s price target would suggest a potential upside of 25.19% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. 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. 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. BidaskClub upgraded shares of Meritor from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “buy” rating and issued a $23.00 price target on shares of Meritor in a research report on Monday. Finally, Barclays PLC lifted 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. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Meritor currently has a consensus rating of “Buy” and a consensus target price of $21.29.

Shares of Meritor (MTOR) opened at 19.97 on Tuesday. Meritor has a one year low of $9.84 and a one year high of $20.57. The firm’s 50-day moving average price is $18.60 and its 200-day moving average price is $17.09. The firm has a market cap of $1.77 billion, a PE ratio of 3.24 and a beta of 2.21.

Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. The firm had revenue of $920 million for the quarter, compared to analysts’ expectations of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. Equities research analysts expect that Meritor will post $1.69 earnings per share for the current fiscal year.

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In other Meritor news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the transaction, the senior vice president now owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.87% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Meritor by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 11,154,890 shares of the auto parts company’s stock worth $191,083,000 after purchasing an additional 749,068 shares in the last quarter. First Trust Advisors LP grew its position in Meritor by 240.0% during the 1st quarter. First Trust Advisors LP now owns 165,693 shares of the auto parts company’s stock worth $2,838,000 after purchasing an additional 116,958 shares in the last quarter. Geode Capital Management LLC grew its position in Meritor by 6.0% during the 1st quarter. Geode Capital Management LLC now owns 678,036 shares of the auto parts company’s stock worth $11,614,000 after purchasing an additional 38,551 shares in the last quarter. Teachers Advisors LLC grew its position in Meritor by 530.2% during the 1st quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock worth $15,429,000 after purchasing an additional 757,767 shares in the last quarter. Finally, BlackRock Inc. grew its position in Meritor by 22,259.3% during the 1st quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock worth $102,629,000 after purchasing an additional 5,964,374 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

About Meritor

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.

Analyst Recommendations for Meritor (NYSE:MTOR)

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