Espirito Santo Investment Bank Research Reaffirms Neutral Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “neutral” rating restated by equities researchers at Espirito Santo Investment Bank Research in a research report issued on Friday. They currently have a GBX 495 ($8.27) target price on the stock. Espirito Santo Investment Bank Research’s price target would suggest a potential upside of 6.06% from the company’s current price.
Meggitt plc (LON:MGGT) opened at 464.90 on Friday. Meggitt plc has a one year low of GBX 445.00 and a one year high of GBX 573.50. The stock’s 50-day moving average is GBX 498.9 and its 200-day moving average is GBX 492.4. The company’s market cap is £3.745 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 3rd. Stockholders 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Westhouse Securities cut their price target on shares of Meggitt plc from GBX 470 ($7.86) to GBX 430 ($7.19) in a research note on Wednesday, August 13th. They now have a “neutral” rating on the stock. Separately, 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 ($8.53) price target on the stock, down previously from GBX 580 ($9.70). Finally, 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 ($8.53) price target on the stock, down previously from GBX 600 ($10.03). Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Meggitt plc presently has an average rating of “Hold” and a consensus price target of GBX 528.29 ($8.83).
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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