Meggitt plc’s Hold Rating Reaffirmed at Jefferies Group (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group in a research note issued to investors on Friday. They currently have a GBX 550 ($9.19) price objective on the stock. Jefferies Group’s price objective points to a potential upside of 17.85% from the company’s current price.
Meggitt plc (LON:MGGT) opened at 466.30 on Friday. Meggitt plc has a one year low of GBX 445.00 and a one year high of GBX 573.50. The stock has a 50-day moving average of GBX 498.9 and a 200-day moving average of GBX 492.4. The company’s market cap is £3.757 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 3rd. Investors 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.
Several other analysts have also recently commented on the stock. Analysts at Espirito Santo Investment Bank Research reiterated a “neutral” rating on shares of Meggitt plc in a research note on Friday. They now have a GBX 495 ($8.27) price target on the stock. Separately, 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. Finally, 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). Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Meggitt plc has a consensus rating of “Hold” and a consensus target price 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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