Meritor, Inc. (MTOR) Price Target Increased to $21.50 by Analysts at J P Morgan Chase & Co
Meritor, Inc. (NYSE:MTOR) had its price objective lifted by equities researchers at J P Morgan Chase & Co from $19.00 to $21.50 in a research note issued on Tuesday. The firm presently has a “neutral” rating on the auto parts company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 1.94% from the company’s current price.
Other research analysts have also issued research reports about the company. BidaskClub raised Meritor from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $25.00) on shares of Meritor in a report on Tuesday. UBS AG reaffirmed a “neutral” rating and issued a $19.00 target price (up previously from $18.00) on shares of Meritor in a report on Thursday, August 3rd. Finally, ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.81.
Meritor (NYSE:MTOR) traded up 1.47% during trading on Tuesday, reaching $21.40. The company’s stock had a trading volume of 250,552 shares. Meritor has a 52-week low of $9.84 and a 52-week high of $21.49. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.47 and a beta of 2.21. The stock’s 50-day moving average is $18.76 and its 200 day moving average is $17.15.
Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. The business had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, analysts predict that Meritor will post $1.69 EPS for the current fiscal year.
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In other news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total transaction of $80,612.16. Following the sale, the senior vice president now owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.87% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MTOR. Teachers Advisors LLC grew its holdings in shares of Meritor by 5.5% during the 4th quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after purchasing an additional 7,511 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Meritor by 2.6% during the 1st quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock worth $196,000 after purchasing an additional 289 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Meritor by 68.7% during the 1st quarter. Russell Investments Group Ltd. now owns 204,788 shares of the auto parts company’s stock worth $3,504,000 after purchasing an additional 83,400 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Meritor during the 1st quarter worth approximately $365,000. Finally, First Trust Advisors LP grew its holdings in shares of 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. 93.23% of the stock is currently owned by institutional investors.
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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