Meritor, Inc. (MTOR) Downgraded by Zacks Investment Research
Meritor, Inc. (NYSE:MTOR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Meritor’s earnings and revenues beat the Zacks Consensus Estimate in the fourth quarter. Compared with the year-ago figures, both earnings per share and revenues witnessed double-digit growth. This has helped the company issue a positive guidance for fiscal 2018. Meritor is also expected to benefit from M2019 plan, aiming at new business wins and a continued investment in new products and technologies. Further, these acquisitions will enable the company to expand its suite of complementary products offered and thus increase its customer base. Meritor also has plans to introduce new products in the market for its customers. Last three months, shares of the company have outperformed the industry it belongs to.”
MTOR has been the subject of a number of other reports. Royal Bank Of Canada restated a “buy” rating and issued a $23.00 price objective on shares of Meritor in a report on Monday, September 4th. Barclays PLC set a $22.00 price objective on shares of Meritor and gave the stock a “hold” rating in a report on Friday, October 20th. UBS AG restated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Meritor in a report on Thursday, August 3rd. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective (up from $25.00) on shares of Meritor in a report on Tuesday, September 12th. Finally, J P Morgan Chase & Co boosted their price objective on shares of Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a report on Tuesday, September 12th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.75.
Shares of Meritor (NYSE:MTOR) traded down $0.60 on Wednesday, hitting $24.10. The stock had a trading volume of 1,815,200 shares, compared to its average volume of 1,190,607. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.78 and a current ratio of 1.10. Meritor has a 12-month low of $12.22 and a 12-month high of $27.96. The company has a market cap of $2,188.01, a PE ratio of 13.28 and a beta of 2.34.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.15. Meritor had a negative return on equity of 1,152.54% and a net margin of 9.68%. The firm had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $836.39 million. During the same period in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. sell-side analysts forecast that Meritor will post 2.37 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System raised 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 buying an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Meritor by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock valued at $122,000 after buying an additional 596 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Meritor by 123.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,352 shares of the auto parts company’s stock valued at $218,000 after buying an additional 4,611 shares during the last quarter. Federated Investors Inc. PA raised its stake in Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after buying an additional 1,491 shares during the last quarter. Finally, AMP Capital Investors Ltd purchased a new stake in Meritor during the 3rd quarter valued at $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.
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