Meggitt plc’s (MGGT) “Underperform” Rating Reaffirmed at Credit Suisse Group
A number of other research firms also recently issued reports on MGGT. Liberum Capital restated a sell rating and set a GBX 375 ($4.95) price objective on shares of Meggitt plc in a report on Monday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Meggitt plc from GBX 580 ($7.65) to GBX 570 ($7.52) and set an overweight rating for the company in a report on Thursday, October 12th. Deutsche Bank AG raised their price objective on shares of Meggitt plc from GBX 450 ($5.94) to GBX 460 ($6.07) and gave the stock a hold rating in a report on Thursday, August 31st. Barclays PLC restated an overweight rating and set a GBX 540 ($7.13) price objective on shares of Meggitt plc in a report on Monday, August 7th. Finally, Jefferies Group LLC upgraded shares of Meggitt plc to a buy rating and raised their price objective for the stock from GBX 500 ($6.60) to GBX 600 ($7.92) in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of GBX 470.58 ($6.21).
Meggitt plc (LON MGGT) opened at 518.50 on Tuesday. Meggitt plc has a 1-year low of GBX 407.40 and a 1-year high of GBX 530.00. The firm’s market capitalization is GBX 4.01 billion. The stock’s 50 day moving average is GBX 512.46 and its 200 day moving average is GBX 495.61.
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The firm also recently announced a dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 7th were paid a GBX 5.05 ($0.07) dividend. The ex-dividend date was Thursday, September 7th. This represents a dividend yield of 1.01%.
In other Meggitt plc news, insider Nancy Gioia bought 3,000 shares of Meggitt plc stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of GBX 524 ($6.91) per share, for a total transaction of £15,720 ($20,744.26). Insiders bought 3,073 shares of company stock valued at $1,609,146 in the last quarter.
About Meggitt plc
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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