Meritor Inc (MTOR) Receives Consensus Rating of “Buy” from Brokerages

Shares of Meritor Inc (NYSE:MTOR) have earned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $29.05.

Several equities analysts have recently weighed in on the stock. Barclays set a $22.00 price objective on shares of Meritor and gave the company a “hold” rating in a report on Friday, October 20th. 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 report on Friday, December 8th. Zacks Investment Research upgraded shares of Meritor from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 31st. 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 report on Thursday, November 16th. Finally, Longbow Research upgraded shares of Meritor from a “neutral” rating to a “buy” rating in a report on Wednesday, January 24th.

In related news, CEO Jeffrey A. Craig sold 67,005 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.63, for a total value of $1,650,333.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Chris Villavarayan sold 18,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $28.61, for a total transaction of $514,980.00. The disclosure for this sale can be found here. Insiders sold a total of 214,290 shares of company stock worth $5,520,211 in the last 90 days. 2.32% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Rothschild Asset Management Inc. bought a new stake in Meritor in the 3rd quarter worth about $37,927,000. BlackRock Inc. grew its position in Meritor by 2.4% in the 2nd quarter. BlackRock Inc. now owns 6,132,756 shares of the auto parts company’s stock worth $101,865,000 after purchasing an additional 141,587 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA bought a new stake in Meritor in the 3rd quarter worth about $1,135,000. Piedmont Investment Advisors LLC bought a new stake in Meritor in the 2nd quarter worth about $1,452,000. Finally, Royal Bank of Canada grew its position in Meritor by 32.3% in the 2nd quarter. Royal Bank of Canada now owns 123,546 shares of the auto parts company’s stock worth $2,053,000 after purchasing an additional 30,194 shares in the last quarter. 97.46% of the stock is owned by institutional investors and hedge funds.

Shares of Meritor (MTOR) traded down $0.16 on Wednesday, reaching $26.21. 946,787 shares of the company’s stock were exchanged, compared to its average volume of 1,421,870. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $2,350.00, a PE ratio of 8.48 and a beta of 2.45. Meritor has a twelve month low of $14.97 and a twelve month high of $29.54.

Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.16. The business had revenue of $903.00 million for the quarter, compared to analysts’ expectations of $836.28 million. Meritor had a net margin of 7.69% and a return on equity of 208.74%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. research analysts forecast that Meritor will post 2.7 EPS for the current fiscal year.

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Meritor Company Profile

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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