Barclays PLC Reaffirms Equal Weight Rating for Meritor, Inc. (MTOR)
Barclays PLC reissued their equal weight rating on shares of Meritor, Inc. (NYSE:MTOR) in a research report released on Tuesday morning. Barclays PLC currently has a $21.00 target price on the auto parts company’s stock, up from their prior target price of $17.00.
A number of other research firms also recently weighed in on MTOR. Stifel Nicolaus reaffirmed a buy rating and issued a $26.00 target price (up from $25.00) on shares of Meritor in a research report on Tuesday. J P Morgan Chase & Co upped their target price on shares of Meritor from $19.00 to $21.50 and gave the stock a neutral rating in a research report on Tuesday. ValuEngine raised shares of Meritor from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a buy rating and issued a $23.00 target price on shares of Meritor in a research report on Monday, September 4th. Finally, Buckingham Research began coverage on shares of Meritor in a research report on Tuesday, September 5th. They issued a buy rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Meritor currently has an average rating of Buy and an average price target of $22.28.
Meritor (NYSE MTOR) opened at 22.58 on Tuesday. Meritor has a 1-year low of $9.84 and a 1-year high of $22.90. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.66 and a beta of 2.21. The firm has a 50 day moving average of $19.31 and a 200-day moving average of $17.33.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. The firm had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. On average, equities research analysts anticipate that Meritor will post $1.69 earnings per share for the current fiscal year.
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In related news, SVP Robert H. Speed sold 4,192 shares of the 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 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 accessible through the SEC website. Corporate insiders own 2.87% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System lifted its stake in Meritor by 1.4% during the 1st quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after acquiring an additional 100 shares during the period. Amalgamated Bank lifted its stake in Meritor by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after acquiring an additional 281 shares during the period. Bank of Montreal Can lifted its stake in Meritor by 2.6% during the 1st quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after acquiring an additional 289 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Meritor by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock valued at $1,065,000 after acquiring an additional 439 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Meritor by 3.5% during the 2nd quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock valued at $259,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.
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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