Meritor, Inc. (MTOR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Meritor, Inc. (NYSE:MTOR) have been assigned an average rating of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.83.
Several research analysts have weighed in on the stock. Stifel Nicolaus set a $25.00 price objective on shares of Meritor and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Longbow Research downgraded shares of Meritor from a “buy” rating to a “neutral” rating in a report on Thursday. BidaskClub upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. UBS AG restated a “neutral” rating and set a $19.00 price objective (up previously from $18.00) on shares of Meritor in a report on Thursday, August 3rd. Finally, KeyCorp restated a “buy” rating and set a $37.00 price objective (up previously from $23.00) on shares of Meritor in a report on Tuesday, September 19th.
Shares of Meritor (MTOR) traded down 1.18% during midday trading on Thursday, reaching $25.93. 1,576,547 shares of the company’s stock traded hands. The firm has a market cap of $2.30 billion, a PE ratio of 4.21 and a beta of 2.30. The company has a 50 day moving average of $23.23 and a 200 day moving average of $18.58. Meritor has a 52-week low of $9.84 and a 52-week high of $27.03.
Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The firm had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Meritor will post $1.70 EPS for the current fiscal year.
In other news, SVP Robert H. Speed sold 4,192 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the sale, the senior vice president now owns 30,000 shares in the company, valued at $576,900. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.87% of the company’s stock.
Several hedge funds have recently made changes to their positions in MTOR. Ameritas Investment Partners Inc. purchased a new stake in shares of Meritor in the first quarter valued at about $116,000. New York State Teachers Retirement System increased its holdings in Meritor by 1.4% during 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 increased its holdings in Meritor by 21.2% during 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. Amalgamated Bank increased its holdings in Meritor by 2.7% during the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after buying an additional 281 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Meritor during the second quarter worth about $186,000. Institutional investors own 93.23% of the company’s stock.
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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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