Meritor (MTOR) Upgraded to Overweight by Piper Jaffray Companies
Piper Jaffray Companies upgraded shares of Meritor (NYSE:MTOR) from an underweight rating to an overweight rating in a research note issued to investors on Friday morning. Piper Jaffray Companies currently has $30.00 target price on the auto parts company’s stock.
Several other equities analysts have also commented on MTOR. ValuEngine raised shares of Meritor from a buy rating to a strong-buy rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a buy rating and issued a $23.00 target price on shares of Meritor in a report on Monday, September 4th. Buckingham Research initiated coverage on shares of Meritor in a report on Tuesday, September 5th. They issued a buy rating and a $25.00 target price on the stock. Stifel Nicolaus reissued a buy rating and issued a $25.00 target price on shares of Meritor in a report on Tuesday, September 5th. Finally, KeyCorp reissued a buy rating and issued a $23.00 target price on shares of Meritor in a report on Friday, September 8th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $26.14.
Meritor (NYSE:MTOR) traded up $0.57 during mid-day trading on Friday, reaching $24.01. 1,854,483 shares of the company’s stock traded hands, compared to its average volume of 1,650,383. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 2.55. Meritor has a 52-week low of $12.38 and a 52-week high of $27.96. The company has a market cap of $2,076.40, a price-to-earnings ratio of 12.60 and a beta of 2.28.
In related news, CEO Jeffrey A. Craig sold 67,005 shares of Meritor stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.63, for a total transaction of $1,650,333.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Chris Villavarayan sold 14,053 shares of Meritor stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $346,265.92. The disclosure for this sale can be found here. Insiders have sold a total of 101,226 shares of company stock worth $2,493,539 over the last ninety days. 2.87% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Rothschild Asset Management Inc. acquired a new stake in Meritor during the 3rd quarter worth approximately $37,927,000. BlackRock Inc. boosted its position in Meritor by 2.4% during the 2nd quarter. BlackRock Inc. now owns 6,132,756 shares of the auto parts company’s stock worth $101,865,000 after buying an additional 141,587 shares during the period. Rosenblum Silverman Sutton S F Inc. CA acquired a new stake in Meritor during the 3rd quarter worth approximately $1,135,000. Kennedy Capital Management Inc. boosted its position in Meritor by 12.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 499,278 shares of the auto parts company’s stock worth $8,293,000 after buying an additional 56,637 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Meritor during the 2nd quarter worth approximately $1,232,000. Institutional investors and hedge funds own 96.20% 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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