J P Morgan Chase & Co Reaffirms Overweight Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “overweight” rating reaffirmed by equities researchers at J P Morgan Chase & Co in a note issued to investors on Monday. They presently have a GBX 575 ($7.49) price objective on the stock. J P Morgan Chase & Co’s target price would indicate a potential upside of 16.68% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Bank of America Corporation raised shares of Meggitt plc to a “buy” rating and set a GBX 530 ($6.90) price objective for the company in a research report on Wednesday, April 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a GBX 456 ($5.94) price objective on shares of Meggitt plc in a research report on Friday, July 7th. Citigroup Inc. reaffirmed a “neutral” rating and set a GBX 500 ($6.51) price objective on shares of Meggitt plc in a research report on Friday, May 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a GBX 457 ($5.95) price objective on shares of Meggitt plc in a research report on Thursday, June 22nd. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Meggitt plc in a research report on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of GBX 453.50 ($5.91).
Shares of Meggitt plc (LON:MGGT) traded down 0.28% during mid-day trading on Monday, hitting GBX 493.40. The company had a trading volume of 1,737,835 shares. The firm has a 50-day moving average price of GBX 494.10 and a 200 day moving average price of GBX 462.34. Meggitt plc has a 52-week low of GBX 398.30 and a 52-week high of GBX 510.50. The firm’s market capitalization is GBX 3.82 billion.
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In other news, insider Paul Heiden bought 134 shares of the stock in a transaction dated Friday, May 5th. The shares were acquired at an average price of GBX 474 ($6.18) per share, with a total value of £635.16 ($827.46). Also, insider Doug Webb sold 16,869 shares of Meggitt plc stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of GBX 482 ($6.28), for a total transaction of £81,308.58 ($105,925.72). Insiders have purchased a total of 210 shares of company stock worth $100,673 over the last quarter.
Meggitt plc Company Profile
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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