Mayville Engineering (NYSE:MEC) Price Target Raised to $30.00

Mayville Engineering (NYSE:MECFree Report) had its target price lifted by Northland Securities from $20.00 to $30.00 in a research note published on Friday, Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. Citigroup increased their price objective on Mayville Engineering from $17.00 to $18.00 and gave the company a buy rating in a report on Monday, April 8th. William Blair upgraded shares of Mayville Engineering to a strong-buy rating in a report on Wednesday, May 8th.

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Mayville Engineering Stock Up 3.3 %

NYSE:MEC opened at $17.00 on Friday. The company’s 50 day moving average is $15.05 and its two-hundred day moving average is $13.90. The company has a market cap of $348.96 million, a PE ratio of 40.48 and a beta of 0.87. Mayville Engineering has a twelve month low of $9.72 and a twelve month high of $17.00. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Mayville Engineering (NYSE:MECGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $158.60 million. Mayville Engineering had a net margin of 1.40% and a return on equity of 6.01%. Analysts anticipate that Mayville Engineering will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Mayville Engineering

A number of institutional investors have recently modified their holdings of MEC. UBS Group AG grew its holdings in Mayville Engineering by 15.4% during the third quarter. UBS Group AG now owns 220,498 shares of the company’s stock worth $2,419,000 after acquiring an additional 29,348 shares during the period. Ancora Advisors LLC increased its holdings in shares of Mayville Engineering by 53.9% during the 3rd quarter. Ancora Advisors LLC now owns 164,877 shares of the company’s stock valued at $1,809,000 after purchasing an additional 57,764 shares in the last quarter. Gladius Capital Management LP acquired a new position in shares of Mayville Engineering in the 3rd quarter valued at $33,000. Avior Wealth Management LLC purchased a new stake in Mayville Engineering during the fourth quarter worth $150,000. Finally, Russell Investments Group Ltd. boosted its holdings in Mayville Engineering by 54.6% during the fourth quarter. Russell Investments Group Ltd. now owns 92,814 shares of the company’s stock worth $1,338,000 after buying an additional 32,797 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Mayville Engineering Company Profile

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Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.

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