Westhouse Securities Lowers Meggitt plc Price Target to GBX 430 (MGGT)
Westhouse Securities cut their price target on shares of Meggitt plc (LON:MGGT) from GBX 470 ($7.88) to GBX 430 ($7.21) in a research note issued on Wednesday. The firm currently has a “neutral” rating on the stock. Westhouse Securities’ price target suggests a potential downside of 8.74% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity downgraded shares of Meggitt plc to a “hold” rating in a research note on Friday, August 8th. They now have a GBX 510 ($8.56) price target on the stock, down previously from GBX 580 ($9.73). Separately, analysts at Berenberg Bank downgraded shares of Meggitt plc to a “hold” rating in a research note on Friday, August 8th. They now have a GBX 510 ($8.56) price target on the stock, down previously from GBX 600 ($10.07). Finally, analysts at Investec downgraded shares of Meggitt plc to a “hold” rating in a research note on Wednesday, August 6th. They now have a GBX 480 ($8.05) price target on the stock, down previously from GBX 530 ($8.89). Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of GBX 530.38 ($8.90).
Meggitt plc (LON:MGGT) opened at 466.20 on Wednesday. Meggitt plc has a 52-week low of GBX 445.00 and a 52-week high of GBX 573.50. The stock’s 50-day moving average is GBX 507.6 and its 200-day moving average is GBX 494.9. The company’s market cap is £3.756 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 3rd. Shareholders of record on Wednesday, August 13th will be given a dividend of GBX 4.25 ($0.07) per share. This represents a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 13th.
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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