Meggitt plc (MGGT) Given Consensus Recommendation of “Hold” by Brokerages
Meggitt plc (LON:MGGT) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is GBX 480.22 ($6.42).
Several analysts have recently commented on MGGT shares. Credit Suisse Group reaffirmed an “underperform” rating on shares of Meggitt in a research report on Tuesday, October 24th. Liberum Capital reaffirmed a “sell” rating and set a GBX 375 ($5.01) price objective on shares of Meggitt in a research report on Tuesday, November 14th. JPMorgan Chase & Co. reduced their price objective on shares of Meggitt from GBX 550 ($7.35) to GBX 540 ($7.22) and set an “overweight” rating for the company in a research report on Friday. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Meggitt in a research report on Monday, December 18th.
In other Meggitt news, insider Nigel Rudd purchased 1,500 shares of Meggitt stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of GBX 477 ($6.38) per share, with a total value of £7,155 ($9,566.79). In the last three months, insiders purchased 1,575 shares of company stock valued at $753,073.
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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