Meggitt plc (LON:MGGT) had its target price lowered by J P Morgan Chase & Co from GBX 560 ($7.37) to GBX 550 ($7.23) in a report published on Wednesday morning. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Liberum Capital reissued a sell rating and set a GBX 375 ($4.93) price target on shares of Meggitt plc in a report on Tuesday, November 14th. Credit Suisse Group reissued an underperform rating on shares of Meggitt plc in a report on Tuesday, October 24th. Deutsche Bank AG increased their price target on Meggitt plc from GBX 450 ($5.92) to GBX 460 ($6.05) and gave the company a hold rating in a report on Thursday, August 31st. Jefferies Group LLC raised Meggitt plc to a buy rating and increased their price target for the company from GBX 500 ($6.58) to GBX 600 ($7.89) in a report on Wednesday, August 23rd. Finally, Barclays PLC reissued an overweight rating and set a GBX 540 ($7.10) price target on shares of Meggitt plc in a report on Monday, August 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of GBX 468.92 ($6.17).

Meggitt plc (MGGT) opened at GBX 481.10 ($6.33) on Wednesday. Meggitt plc has a twelve month low of GBX 407.40 ($5.36) and a twelve month high of GBX 530 ($6.97).

In related news, insider Nigel Rudd acquired 1,500 shares of Meggitt plc stock in a transaction dated Monday, November 20th. The stock was purchased at an average cost of GBX 477 ($6.27) per share, for a total transaction of £7,155 ($9,410.76). Also, insider Nancy Gioia acquired 3,000 shares of Meggitt plc stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of GBX 524 ($6.89) per share, with a total value of £15,720 ($20,676.05). Insiders bought a total of 4,574 shares of company stock valued at $2,325,014 over the last 90 days.

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Meggitt plc 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 plc (LON:MGGT)

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