UBS Group Lowers Meritor (NYSE:MTOR) Price Target to $21.00

Meritor (NYSE:MTOR) had its target price cut by UBS Group from $25.00 to $21.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price objective indicates a potential upside of 6.82% from the company’s current price.

Several other brokerages have also recently issued reports on MTOR. Citigroup decreased their target price on shares of Meritor from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Buckingham Research reduced their price objective on shares of Meritor from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. ValuEngine lowered shares of Meritor from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.60.

MTOR traded down $0.70 during mid-day trading on Thursday, reaching $19.66. 11,530 shares of the company traded hands, compared to its average volume of 859,874. The stock has a market capitalization of $1.57 billion, a P/E ratio of 6.49 and a beta of 2.32. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.44. The company’s fifty day moving average price is $19.26 and its 200-day moving average price is $21.55. Meritor has a 52-week low of $15.01 and a 52-week high of $25.78.

Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Meritor had a net margin of 6.31% and a return on equity of 83.77%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, sell-side analysts forecast that Meritor will post 3.72 earnings per share for the current fiscal year.

In other Meritor news, SVP Boise April Miller sold 31,830 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $17.38, for a total value of $553,205.40. The sale was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Meritor by 16.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock valued at $115,000 after purchasing an additional 686 shares in the last quarter. ICM Asset Management Inc. WA boosted its stake in shares of Meritor by 0.3% during the second quarter. ICM Asset Management Inc. WA now owns 222,730 shares of the auto parts company’s stock valued at $5,401,000 after purchasing an additional 730 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Meritor by 124.3% during the second quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 794 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Meritor by 2.4% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 44,724 shares of the auto parts company’s stock valued at $1,085,000 after purchasing an additional 1,067 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of Meritor by 13.0% during the second quarter. First Hawaiian Bank now owns 15,920 shares of the auto parts company’s stock valued at $386,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About Meritor

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Meritor (NYSE:MTOR)

Receive News & Ratings for Meritor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply