Meggitt plc Receives Consensus Recommendation of “Hold” from Brokerages (LON:MGGT)
Meggitt plc (LON:MGGT) has been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the stock, StockRatingsNetwork.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is GBX 549.86 ($9.41).
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Meggitt plc in a research note on Thursday. Separately, analysts at Deutsche Bank cut their price target on shares of Meggitt plc from GBX 485 ($8.30) to GBX 475 ($8.13) in a research note on Thursday. They now have a “hold” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Meggitt plc in a research note on Tuesday, July 8th. They now have a GBX 580 ($9.93) price target on the stock.
Shares of Meggitt plc (LON:MGGT) traded up 0.61% during mid-day trading on Monday, hitting GBX 496.70. The stock had a trading volume of 336,369 shares. Meggitt plc has a 52-week low of GBX 445.00 and a 52-week high of GBX 575.00. The stock has a 50-day moving average of GBX 505.9 and a 200-day moving average of GBX 499.0. The company’s market cap is £3.959 billion.
Meggitt PLC is engaged in designing and manufacturing of components and sub-systems. The Company’s segments include Aircraft Braking Systems, which is a supplier of aircraft wheels, brakes and brake control systems; Control Systems, which is a supplier of pneumatic, fluid control, thermal management and electro-mechanical equipment and sub-systems; Polymers & Composites, which is a specialist in fuel containment, engineered aircraft sealing solutions and technical polymers, electrothermal ice protection and complex composite structures and assemblies; Sensing Systems, which is a provider of sensing and condition-monitoring solutions for rotating machinery and other assets, and Equipment Group division, which supplies aircraft fire protection and control systems, avionics, combat systems, live-fire and simulation training, and heat transfer equipment.
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