Meggitt plc (MGGT) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Meggitt plc (LON:MGGT) have earned a consensus rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is GBX 455.14 ($5.80).
A number of equities research analysts recently commented on MGGT shares. Liberum Capital reissued a “sell” rating and issued a GBX 375 ($4.78) price objective on shares of Meggitt plc in a research note on Thursday, April 27th. Barclays PLC reissued an “overweight” rating and issued a GBX 540 ($6.88) price objective on shares of Meggitt plc in a research note on Wednesday, May 3rd. J P Morgan Chase & Co increased their price objective on shares of Meggitt plc from GBX 470 ($5.99) to GBX 500 ($6.37) and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Bank of America Corporation raised shares of Meggitt plc to a “buy” rating and set a GBX 530 ($6.75) price objective on the stock in a research note on Wednesday, April 12th. Finally, Berenberg Bank increased their price objective on shares of Meggitt plc from GBX 440 ($5.61) to GBX 490 ($6.24) and gave the company a “hold” rating in a research note on Friday, March 10th.
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In other Meggitt plc news, insider Doug Webb sold 16,869 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of GBX 482 ($6.14), for a total value of £81,308.58 ($103,591.01). Also, insider Paul Heiden bought 134 shares of Meggitt plc stock in a transaction on Friday, May 5th. The stock was purchased at an average price of GBX 474 ($6.04) per share, for a total transaction of £635.16 ($809.22). Over the last 90 days, insiders acquired 185 shares of company stock worth $88,448 and sold 54,423 shares worth $24,722,292.
Shares of Meggitt plc (LON:MGGT) traded down 0.40% during mid-day trading on Monday, hitting GBX 504.00. 2,404,171 shares of the stock traded hands. The firm’s market cap is GBX 3.90 billion. Meggitt plc has a 12-month low of GBX 361.80 and a 12-month high of GBX 510.00. The firm’s 50 day moving average price is GBX 488.72 and its 200 day moving average price is GBX 458.49.
About Meggitt plc
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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