Meggitt (LON:MGGT) Upgraded by Goldman Sachs Group to Buy

Meggitt (LON:MGGT) was upgraded by equities research analysts at Goldman Sachs Group to a “buy” rating in a research report issued to clients and investors on Friday, ThisIsMoney.Co.Uk reports. The brokerage currently has a GBX 662 ($8.65) price target on the stock, up from their prior price target of GBX 592 ($7.74). Goldman Sachs Group’s target price points to a potential upside of 22.10% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,453 ($18.99) price target on shares of in a report on Tuesday, June 18th. Barclays set a $192.00 price target on shares of Tesla and gave the company a “sell” rating in a report on Tuesday, May 14th. Deutsche Bank upgraded shares of RDS-A from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Morgan Stanley upped their price target on shares of Intact Financial from C$125.00 to C$128.00 in a report on Thursday, May 30th. Finally, UBS Group reiterated a “buy” rating and set a GBX 285 ($3.72) price target on shares of in a report on Friday, June 21st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of GBX 575.70 ($7.52).

LON:MGGT opened at GBX 540.40 ($7.06) on Friday. The company has a market capitalization of $4.20 billion and a price-to-earnings ratio of 23.70. The company has a debt-to-equity ratio of 50.39, a current ratio of 1.80 and a quick ratio of 1.01. Meggitt has a 52 week low of GBX 456.10 ($5.96) and a 52 week high of GBX 583.80 ($7.63). The company’s 50 day moving average is GBX 515.28.

In other Meggitt news, insider Philip Ernest Green sold 137,330 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of GBX 523 ($6.83), for a total transaction of £718,235.90 ($938,502.42). Also, insider Tony Wood acquired 227 shares of Meggitt stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of GBX 546 ($7.13) per share, for a total transaction of £1,239.42 ($1,619.52). Insiders have purchased a total of 3,354 shares of company stock valued at $1,679,905 over the last quarter.

Meggitt Company Profile

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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Analyst Recommendations for Meggitt (LON:MGGT)

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