Panmure Gordon Reaffirms Sell Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “sell” rating reiterated by Panmure Gordon in a note issued to investors on Friday. They presently have a GBX 325 ($4.24) price objective on the stock. Panmure Gordon’s price target suggests a potential downside of 29.88% from the company’s previous close.
MGGT has been the topic of a number of other research reports. Berenberg Bank downgraded shares of Meggitt plc to a “hold” rating and cut their target price for the company from GBX 450 ($5.87) to GBX 440 ($5.74) in a research note on Monday, August 8th. Credit Suisse Group AG reissued an “underperform” rating on shares of Meggitt plc in a research note on Monday. Beaufort Securities reissued a “buy” rating on shares of Meggitt plc in a research note on Thursday, August 25th. Goldman Sachs Group Inc. raised their target price on shares of Meggitt plc from GBX 402 ($5.25) to GBX 463 ($6.04) and gave the company a “neutral” rating in a research note on Monday, September 5th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Meggitt plc in a research note on Tuesday, August 16th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of GBX 433.63 ($5.66).
Shares of Meggitt plc (LON:MGGT) traded down 0.96% during trading on Friday, hitting GBX 463.50. 3,026,758 shares of the company were exchanged. The stock’s market cap is GBX 3.59 billion. Meggitt plc has a 12 month low of GBX 337.60 and a 12 month high of GBX 498.40. The company’s 50-day moving average price is GBX 465.29 and its 200 day moving average price is GBX 420.45.
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The firm also recently announced a dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 8th were issued a GBX 4.80 ($0.06) dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a dividend yield of 1.14%.
About Meggitt plc
Meggitt PLC is an engineering company. The Company’s segments are Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems and the Meggitt Equipment Group. Its Meggitt Aircraft Braking Systems is a supplier of aircraft wheels, brakes and brake control systems.
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