Meritor Reaches New 1-Year High Following Analyst Upgrade (MTOR)
Meritor (NASDAQ:MTOR) shares hit a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $9.00 to $12.00, ARN reports. Morgan Stanley currently has an overweight rating on the stock. Meritor traded as high as $11.39 and last traded at $11.33, with a volume of 1,549,477 shares traded. The stock had previously closed at $10.94.
MTOR has been the subject of a number of other recent research reports. Analysts at UBS AG raised their price target on shares of Meritor from $8.00 to $10.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of Meritor from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, analysts at Barclays raised their price target on shares of Meritor from $10.00 to $12.00 in a research note on Thursday, January 30th. They now have an “overweight” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Meritor presently has an average rating of “Hold” and a consensus target price of $9.66.
The stock has a 50-day moving average of $10.29 and a 200-day moving average of $8.32. The company has a market cap of $1.115 billion and a P/E ratio of 106.21.
Meritor (NASDAQ:MTOR) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $922.07 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts predict that Meritor will post $0.42 earnings per share for the current fiscal year.
Meritor, Inc (NASDAQ:MTOR) is a global supplier of a range of integrated systems and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors.
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