RBC Capital Reiterates Outperform Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “outperform” rating reiterated by equities research analysts at RBC Capital in a research note issued to investors on Friday. They currently have a GBX 520 ($8.63) target price on the stock. RBC Capital’s price target points to a potential upside of 8.83% from the company’s current price.
Shares of Meggitt plc (LON:MGGT) opened at 473.00 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 492.0 and its 200-day moving average is GBX 489.4. The company’s market cap is £3.810 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Meggitt plc in a research note on Friday, August 22nd. They now have a GBX 550 ($9.13) price target on the stock. Separately, analysts at Espirito Santo Investment Bank Research reiterated a “neutral” rating on shares of Meggitt plc in a research note on Friday, August 22nd. They now have a GBX 495 ($8.21) price target on the stock. Finally, analysts at Westhouse Securities cut their price target on shares of Meggitt plc from GBX 470 ($7.80) to GBX 430 ($7.14) in a research note on Wednesday, August 13th. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Meggitt plc presently has a consensus rating of “Hold” and a consensus target price of GBX 521.94 ($8.66).
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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