Meritor (MTOR) Upgraded to Buy by Longbow Research

Meritor (NYSE:MTOR) was upgraded by equities researchers at Longbow Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

MTOR has been the topic of a number of other reports. UBS Group lifted their price objective on shares of Meritor from $19.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Piper Jaffray Companies upgraded shares of Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Friday, December 8th. Royal Bank of Canada dropped their price objective on shares of Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, November 16th. Barclays set a $22.00 price objective on shares of Meritor and gave the company a “hold” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research lowered shares of Meritor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.41.

Shares of Meritor (NYSE:MTOR) traded up $0.24 during trading hours on Wednesday, reaching $24.65. 1,830,053 shares of the company traded hands, compared to its average volume of 730,678. Meritor has a 12-month low of $14.05 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.10 and a quick ratio of 0.78. The firm has a market cap of $2,176.96, a price-to-earnings ratio of 6.94 and a beta of 2.29.

Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.15. The firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $836.39 million. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. Meritor’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. research analysts anticipate that Meritor will post 2.45 EPS for the current fiscal year.

In other news, SVP Chris Villavarayan sold 14,053 shares of Meritor stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.64, for a total value of $346,265.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul Bialy sold 2,191 shares of Meritor stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $53,986.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,290 shares of company stock worth $3,549,231. Insiders own 2.32% of the company’s stock.

Several large investors have recently modified their holdings of the company. Amalgamated Bank boosted 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 in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Meritor by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock worth $1,065,000 after buying an additional 439 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Meritor by 3.5% during the second quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock worth $259,000 after buying an additional 528 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Meritor by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after buying an additional 596 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in Meritor by 15.7% during the second quarter. Virtu KCG Holdings LLC now owns 16,861 shares of the auto parts company’s stock worth $280,000 after buying an additional 2,291 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors and hedge funds.

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About Meritor

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.

Analyst Recommendations for Meritor (NYSE:MTOR)

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