Mayville Engineering Company, Inc. (NYSE:MEC) Receives Average Recommendation of “Buy” from Analysts

Mayville Engineering Company, Inc. (NYSE:MEC) has been given an average rating of “Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $21.50.

MEC has been the subject of a number of recent analyst reports. Craig Hallum set a $24.00 price target on shares of Mayville Engineering and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. Northland Securities raised Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research note on Tuesday, August 12th. Finally, Northland Capmk upgraded Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th.

Mayville Engineering Trading Down 1.4%

Shares of MEC stock opened at $15.99 on Friday. The business has a 50-day moving average of $14.88 and a 200 day moving average of $15.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.04. Mayville Engineering has a 1-year low of $11.72 and a 1-year high of $19.05. The stock has a market capitalization of $324.92 million, a PE ratio of 27.57 and a beta of 1.21.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $144.31 million for the quarter, compared to analysts’ expectations of $141.36 million. Mayville Engineering had a return on equity of 5.88% and a net margin of 2.29%. Mayville Engineering has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Mayville Engineering will post 0.31 earnings per share for the current year.

Institutional Trading of Mayville Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEC. BNP Paribas Financial Markets increased its position in Mayville Engineering by 109.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock valued at $38,000 after purchasing an additional 1,435 shares during the period. AlphaQuest LLC boosted its stake in shares of Mayville Engineering by 222.8% during the 1st quarter. AlphaQuest LLC now owns 7,879 shares of the company’s stock valued at $106,000 after purchasing an additional 5,438 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mayville Engineering by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after buying an additional 1,359 shares during the period. CHICAGO TRUST Co NA bought a new position in Mayville Engineering in the second quarter worth about $165,000. Finally, Victory Capital Management Inc. purchased a new stake in Mayville Engineering in the first quarter worth about $180,000. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About Mayville Engineering

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.