Meritor (MTOR) Upgraded at Piper Jaffray Companies
Piper Jaffray Companies upgraded shares of Meritor (NYSE:MTOR) from an underweight rating to an overweight rating in a report released on Friday, MarketBeat Ratings reports. Piper Jaffray Companies currently has $30.00 price objective on the auto parts company’s stock.
Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus reiterated a buy rating and issued a $25.00 price target on shares of Meritor in a research note on Tuesday, September 5th. J P Morgan Chase & Co lifted their price target on shares of Meritor from $19.00 to $21.50 and gave the company a neutral rating in a research note on Tuesday, September 12th. Citigroup reiterated a neutral rating and issued a $22.00 price target (up from $19.00) on shares of Meritor in a research note on Tuesday, September 12th. Barclays set a $22.00 price target on shares of Meritor and gave the company a hold rating in a research note on Friday, October 20th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $23.00 price target on shares of Meritor in a research note on Monday, September 4th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $26.14.
Shares of Meritor (NYSE:MTOR) opened at $24.01 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.10 and a quick ratio of 0.78. Meritor has a 52 week low of $12.38 and a 52 week high of $27.96. The stock has a market cap of $2,130.00, a price-to-earnings ratio of 12.91 and a beta of 2.28.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.15. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $836.39 million. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. equities research analysts anticipate that Meritor will post 2.4 earnings per share for the current fiscal year.
In related news, VP Paul Bialy sold 2,191 shares of Meritor stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $53,986.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey A. Craig sold 67,005 shares of Meritor stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $24.63, for a total transaction of $1,650,333.15. The disclosure for this sale can be found here. In the last three months, insiders sold 101,226 shares of company stock valued at $2,493,539. Insiders own 2.87% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in shares of Meritor by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after buying an additional 281 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Meritor by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock worth $1,065,000 after buying an additional 439 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Meritor by 3.5% during the 2nd quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock worth $259,000 after buying an additional 528 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Meritor by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after buying an additional 596 shares during the period. Finally, Federated Investors Inc. PA boosted its holdings in shares of Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after buying an additional 1,491 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.
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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.
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