Mayville Engineering Company, Inc. (NYSE:MEC) Stock Has Consensus Target Price of $35.75 According to Brokerages

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.75.

Several equities research analysts have weighed in on the stock. Citigroup increased their target price on shares of Mayville Engineering from $33.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Northland Securities set a $40.00 price objective on shares of Mayville Engineering in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mayville Engineering in a report on Friday, July 10th. Finally, DA Davidson increased their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd.

Mayville Engineering Trading Down 0.7%

MEC opened at $15.29 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $19.96 and a two-hundred day moving average price of $24.68. Mayville Engineering has a 1-year low of $12.25 and a 1-year high of $38.76. The stock has a market capitalization of $390.02 million, a PE ratio of -18.21 and a beta of 1.44.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. The firm had revenue of $162.98 million for the quarter, compared to analyst estimates of $150.59 million. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%. As a group, equities analysts anticipate that Mayville Engineering will post -0.22 earnings per share for the current fiscal year.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, SVP Sean Leuba sold 12,855 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $25.44, for a total value of $327,031.20. Following the transaction, the senior vice president directly owned 6,633 shares of the company’s stock, valued at $168,743.52. This trade represents a 65.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Mayville Engineering

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in Mayville Engineering in the second quarter valued at about $53,000. Parkside Financial Bank & Trust increased its stake in shares of Mayville Engineering by 4,657.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,665 shares of the company’s stock valued at $62,000 after buying an additional 1,630 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Mayville Engineering in the 2nd quarter worth approximately $80,000. Engineers Gate Manager LP bought a new stake in Mayville Engineering during the second quarter valued at $213,000. Finally, GSA Capital Partners LLP acquired a new stake in Mayville Engineering in the second quarter worth $255,000. 45.44% of the stock is owned by institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE: MEC) is a manufacturing services provider headquartered in Mayville, Wisconsin. The company develops and produces engineered metal components, assemblies and related products for original equipment manufacturers (OEMs).

MEC offers a range of vertically integrated services, including product and process engineering, tooling and fixture design, metal stamping, fabrication, machining, tube bending, robotic and manual welding, powder coating, and final assembly.