Meggitt’s (MGGT) “Sell” Rating Reaffirmed at Liberum Capital

Meggitt (LON:MGGT)‘s stock had its “sell” rating restated by investment analysts at Liberum Capital in a research report issued on Thursday. They presently have a GBX 410 ($5.56) price objective on the stock. Liberum Capital’s price target suggests a potential downside of 13.39% from the company’s previous close.

MGGT has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on Meggitt from GBX 580 ($7.87) to GBX 570 ($7.73) and set an “overweight” rating for the company in a research note on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating on shares of Meggitt in a research note on Monday, December 18th. Finally, Credit Suisse Group reaffirmed an “underperform” rating on shares of Meggitt in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 499.70 ($6.78).

Meggitt (LON MGGT) traded up GBX 1.80 ($0.02) during mid-day trading on Thursday, hitting GBX 473.40 ($6.42). 2,871,726 shares of the stock were exchanged, compared to its average volume of 1,960,000. The company has a market capitalization of $3,680.00 and a PE ratio of 1,279.46. Meggitt has a 52-week low of GBX 407.40 ($5.52) and a 52-week high of GBX 530 ($7.19).

In other news, insider Nigel Rudd bought 1,500 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of GBX 477 ($6.47) per share, with a total value of £7,155 ($9,703.01). Insiders have acquired a total of 1,577 shares of company stock valued at $752,943 in the last three months.

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About Meggitt

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).

Analyst Recommendations for Meggitt (LON:MGGT)

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