Barclays PLC Boosts Meritor, Inc. (NYSE:MTOR) Price Target to $17.00
Meritor, Inc. (NYSE:MTOR) had its price target raised by analysts at Barclays PLC from $16.00 to $17.00 in a research report issued on Friday. The firm presently has an “equal weight” rating on the auto parts company’s stock. Barclays PLC’s price objective would indicate a potential downside of 5.66% from the company’s previous close.
A number of other research firms have also recently issued reports on MTOR. BidaskClub upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 25th. UBS AG reiterated a “neutral” rating and issued a $19.00 target price (up from $18.00) on shares of Meritor in a research note on Thursday. Stifel Nicolaus set a $25.00 target price on Meritor and gave the company a “buy” rating in a research note on Wednesday. Finally, ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.38.
Meritor (MTOR) traded down 0.22% during mid-day trading on Friday, reaching $18.02. 1,346,769 shares of the company traded hands. The stock’s 50 day moving average price is $16.90 and its 200 day moving average price is $16.38. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 2.95 and a beta of 2.22. Meritor has a 52 week low of $9.79 and a 52 week high of $18.40.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 87.10% and a net margin of 17.03%. The firm had revenue of $920 million for the quarter, compared to analysts’ expectations of $846.19 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that Meritor will post $1.64 EPS for the current year.
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In related news, Director William R. Newlin acquired 5,934 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $16.84 per share, for a total transaction of $99,928.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.87% of the stock is owned by insiders.
Several large investors have recently modified their holdings of MTOR. Ameritas Investment Partners Inc. bought a new stake in shares of Meritor during the first quarter worth $116,000. New York State Teachers Retirement System raised its position in Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock worth $125,000 after buying an additional 100 shares during the last quarter. Federated Investors Inc. PA raised its position in Meritor by 21.2% in the second quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after buying an additional 1,491 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Meritor during the second quarter worth about $186,000. Finally, Fox Run Management L.L.C. purchased a new position in Meritor during the second quarter worth about $188,000. Institutional investors and hedge funds own 92.60% of the company’s stock.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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