Insider Buying: Meritor Director Purchases 1,868 Shares of Stock (MTOR)
Meritor (NASDAQ:MTOR) Director William J. Lyons acquired 1,868 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were purchased at an average cost of $13.59 per share, with a total value of $25,386.12. Following the completion of the transaction, the director now directly owns 33,330 shares in the company, valued at approximately $452,955. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Meritor (NASDAQ:MTOR) traded up 0.52% on Friday, hitting $13.63. The stock had a trading volume of 545,795 shares. Meritor has a 1-year low of $6.09 and a 1-year high of $15.14. The stock’s 50-day moving average is $13.10 and its 200-day moving average is $12.81. The company has a market cap of $1.333 billion and a P/E ratio of 4.67.
Meritor (NASDAQ:MTOR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.13. The company had revenue of $986.00 million for the quarter, compared to the consensus estimate of $974.85 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Meritor will post $0.73 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Meritor in a research note on Monday, August 4th. They now have a $15.00 price target on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Meritor in a research note on Wednesday, July 16th. They set an “overweight” rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.94.
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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