KeyCorp Reiterates “Buy” Rating for Meritor, Inc. (MTOR)
Meritor, Inc. (NYSE:MTOR)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a research note issued to investors on Friday. They presently have a $23.00 target price on the auto parts company’s stock. KeyCorp’s target price would indicate a potential upside of 11.38% from the stock’s current price.
A number of other equities analysts have also recently issued reports on MTOR. Stifel Nicolaus set a $25.00 target price on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Buckingham Research assumed coverage on Meritor in a report on Tuesday, September 5th. They issued a “buy” rating and a $25.00 target price on the stock. UBS AG restated a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of Meritor in a report on Thursday, August 3rd. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Meritor from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.71.
Shares of Meritor (NYSE MTOR) traded up 3.56% during mid-day trading on Friday, hitting $20.65. The stock had a trading volume of 1,580,411 shares. The company has a 50 day moving average price of $18.73 and a 200 day moving average price of $17.14. The firm has a market cap of $1.83 billion, a P/E ratio of 3.35 and a beta of 2.21. Meritor has a 12-month low of $9.84 and a 12-month high of $20.72.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. The business 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 company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. Equities analysts forecast that Meritor will post $1.69 earnings per share for the current fiscal year.
In other news, SVP Robert H. Speed sold 4,192 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the sale, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.87% of the company’s stock.
Several institutional investors have recently modified their holdings of MTOR. Teachers Advisors LLC boosted its position in shares of Meritor by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after buying an additional 7,511 shares during the period. Bank of Montreal Can boosted its position in shares of 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 period. Russell Investments Group Ltd. boosted its position in shares of Meritor by 68.7% in the first quarter. Russell Investments Group Ltd. now owns 204,788 shares of the auto parts company’s stock worth $3,504,000 after buying an additional 83,400 shares during the period. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Meritor in the first quarter worth $365,000. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Meritor in the first quarter worth $1,059,000. 93.23% of the stock is owned by institutional investors and hedge funds.
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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