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.

Meritor (NYSE:MTOR) last released its earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $836.39 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. equities research analysts forecast that Meritor will post 2.4 EPS for the current fiscal year.

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.

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About Meritor

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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