Meggitt plc (MGGT) Receives Consensus Rating of “Hold” from Analysts

Meggitt plc (LON:MGGT) has been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is GBX 488.56 ($6.86).

Several analysts have weighed in on MGGT shares. Credit Suisse Group reiterated an “underperform” rating on shares of Meggitt in a research note on Tuesday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Meggitt from GBX 570 ($8.00) to GBX 560 ($7.86) and set an “overweight” rating for the company in a research report on Wednesday, November 15th. Liberum Capital restated a “sell” rating and set a GBX 375 ($5.27) price target on shares of Meggitt in a research report on Monday, October 2nd. Citigroup restated a “neutral” rating and set a GBX 540 ($7.58) price target on shares of Meggitt in a research report on Friday. Finally, Jefferies Group restated a “buy” rating on shares of Meggitt in a research report on Monday, December 18th.

Shares of Meggitt (MGGT) traded down GBX 9.50 ($0.13) during mid-day trading on Tuesday, hitting GBX 465.80 ($6.54). The stock had a trading volume of 2,340,000 shares, compared to its average volume of 1,870,000. Meggitt has a 12 month low of GBX 407.40 ($5.72) and a 12 month high of GBX 530 ($7.44). The firm has a market capitalization of $3,620.00 and a PE ratio of 1,258.92.

In related news, insider Nigel Rudd bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of GBX 477 ($6.70) per share, for a total transaction of £7,155 ($10,047.75). Insiders purchased a total of 1,577 shares of company stock valued at $752,943 in the last quarter.

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Meggitt Company Profile

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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