Meritor, Inc. (MTOR) Upgraded by BidaskClub to Buy
Meritor, Inc. (NYSE:MTOR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
A number of other analysts also recently weighed in on MTOR. Stifel Nicolaus set a $25.00 price target on Meritor and gave the company a “buy” rating in a research note on Wednesday, August 2nd. KeyCorp reiterated a “buy” rating and set a $23.00 target price on shares of Meritor in a research report on Friday, September 8th. Citigroup Inc. reiterated a “neutral” rating and set a $22.00 target price (up from $19.00) on shares of Meritor in a research report on Tuesday, September 12th. J P Morgan Chase & Co boosted their target price on Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 12th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $21.00 target price (up from $17.00) on shares of Meritor in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Meritor presently has an average rating of “Buy” and a consensus price target of $22.28.
Shares of Meritor (NYSE MTOR) traded up 0.58% on Wednesday, hitting $22.58. The stock had a trading volume of 1,784,289 shares. Meritor has a 12 month low of $9.84 and a 12 month high of $22.90. The stock has a market cap of $2.00 billion, a P/E ratio of 3.70 and a beta of 2.21. The firm has a 50 day moving average of $19.31 and a 200 day moving average of $17.33.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The business had revenue of $920.00 million for the quarter, compared to analyst estimates of $846.19 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Meritor will post $1.69 earnings per share for the current fiscal year.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total transaction of $80,612.16. Following the sale, the senior vice president now directly owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.87% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Meritor in the first quarter valued at $116,000. New York State Teachers Retirement System lifted its position in shares of 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 valued at $125,000 after acquiring an additional 100 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Meritor by 21.2% in the second quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after acquiring an additional 1,491 shares in the last quarter. Amalgamated Bank lifted its position in shares of Meritor by 2.7% in the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after acquiring an additional 281 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Meritor in the second quarter valued at $186,000. Institutional investors and hedge funds own 93.23% 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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