Meritor, Inc. (NYSE:MTOR) had its price target lowered by Royal Bank Of Canada from $32.00 to $30.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the auto parts company’s stock.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Meritor from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Tuesday, July 25th. Stifel Nicolaus reiterated a buy rating and issued a $26.00 target price (up from $25.00) on shares of Meritor in a research note on Tuesday, September 12th. Barclays PLC restated an equal weight rating and issued a $21.00 price target (up from $17.00) on shares of Meritor in a research report on Tuesday, September 12th. Longbow Research restated a buy rating and issued a $28.00 price target (up from $22.00) on shares of Meritor in a research report on Tuesday, September 19th. Finally, UBS AG restated a neutral rating and issued a $19.00 price target (up from $18.00) on shares of Meritor in a research report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $25.75.

Meritor (NYSE MTOR) traded up $0.16 during mid-day trading on Thursday, reaching $23.87. 2,419,100 shares of the company’s stock were exchanged, compared to its average volume of 1,186,683. Meritor has a 12 month low of $12.18 and a 12 month high of $27.96. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 2.55. The stock has a market cap of $2,114.49, a P/E ratio of 12.83 and a beta of 2.34.

Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The business had revenue of $922.00 million for the quarter, compared to the consensus estimate of $836.39 million. During the same quarter last year, the firm earned $0.34 EPS. Meritor’s revenue for the quarter was up 26.6% on a year-over-year basis. analysts expect that Meritor will post 2.37 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Meritor during the 3rd quarter valued at about $743,000. Point72 Asset Management L.P. acquired a new stake in shares of Meritor during the 3rd quarter valued at about $4,684,000. Beacon Investment Advisory Services Inc. boosted its position in shares of Meritor by 100.0% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 175,112 shares of the auto parts company’s stock valued at $4,554,000 after acquiring an additional 87,556 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Meritor during the 3rd quarter valued at about $297,000. Finally, AMP Capital Investors Ltd acquired a new stake in shares of Meritor during the 3rd quarter valued at about $232,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.

Analyst Recommendations for Meritor (NYSE:MTOR)

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