Meritor, Inc. (MTOR) Stock Rating Reaffirmed by KeyCorp
Meritor, Inc. (NYSE:MTOR)‘s stock had its “buy” rating reissued by equities research analysts at KeyCorp in a note issued to investors on Friday. They presently have a $23.00 target price on the auto parts company’s stock. KeyCorp’s price target would suggest a potential upside of 15.35% from the company’s current price.
A number of other research analysts also recently issued reports on MTOR. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 25th. BidaskClub upgraded Meritor from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Stifel Nicolaus set a $25.00 price objective on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Meritor in a report on Monday. Finally, Buckingham Research initiated coverage on Meritor in a report on Tuesday. They set a “buy” rating and a $25.00 price objective for the company. Three 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 company. The company presently has an average rating of “Buy” and a consensus price target of $21.71.
Meritor (MTOR) opened at 19.94 on Friday. Meritor has a 1-year low of $9.84 and a 1-year high of $20.57. The firm’s 50-day moving average price is $18.65 and its 200 day moving average price is $17.11. The stock has a market cap of $1.77 billion, a PE ratio of 3.23 and a beta of 2.21.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. The company had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. Meritor’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. Equities research analysts expect that Meritor will post $1.69 EPS for the current year.
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In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.87% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Springbok Capital Management LLC grew its stake in Meritor by 8.7% in the first quarter. Springbok Capital Management LLC now owns 12,500 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 1,000 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Meritor by 55.9% in the third quarter. BNP Paribas Arbitrage SA now owns 9,835 shares of the auto parts company’s stock valued at $109,000 after purchasing an additional 3,526 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Meritor in the first quarter valued at approximately $116,000. Parametrica Management Ltd bought a new position in Meritor in the first quarter valued at approximately $120,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in Meritor in the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.
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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