Meritor’s (MTOR) Buy Rating Reiterated at Longbow Research
Longbow Research restated their buy rating on shares of Meritor, Inc. (NYSE:MTOR) in a research report sent to investors on Tuesday morning. They currently have a $28.00 price objective on the auto parts company’s stock, up from their prior price objective of $22.00.
MTOR has been the topic of a number of other reports. Barclays PLC restated an equal weight rating and issued a $21.00 price target (up from $17.00) on shares of Meritor in a report on Tuesday, September 12th. Buckingham Research initiated coverage on shares of Meritor in a research report on Tuesday, September 5th. They issued a buy rating and a $25.00 price objective for the company. BidaskClub lowered shares of Meritor from a buy rating to a hold rating in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a buy rating and issued a $25.00 price objective on shares of Meritor in a research report on Tuesday, September 5th. Finally, KeyCorp reaffirmed a buy rating and issued a $37.00 price objective (up from $23.00) on shares of Meritor in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $24.25.
Meritor (NYSE:MTOR) opened at 26.40 on Tuesday. The firm has a 50-day moving average of $19.75 and a 200 day moving average of $17.46. The stock has a market capitalization of $2.34 billion, a PE ratio of 4.28 and a beta of 2.21. Meritor has a one year low of $9.84 and a one year high of $26.50.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The business had revenue of $920.00 million for the quarter, compared to analysts’ expectations of $846.19 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Meritor will post $1.70 earnings per share for the current fiscal year.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.87% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MTOR. BlackRock Inc. raised its position in Meritor by 22,259.3% during the 1st quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock worth $102,629,000 after buying an additional 5,964,374 shares during the last quarter. SG Capital Management LLC purchased a new position in Meritor during the 2nd quarter worth approximately $15,727,000. Teachers Advisors LLC raised its position in Meritor by 530.2% during the 1st quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock worth $15,429,000 after buying an additional 757,767 shares during the last quarter. Vanguard Group Inc. raised its position in Meritor by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 11,154,890 shares of the auto parts company’s stock worth $191,083,000 after buying an additional 749,068 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in Meritor by 108.4% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,151,730 shares of the auto parts company’s stock worth $19,130,000 after buying an additional 599,136 shares during the last quarter. 93.23% of the stock is owned by institutional investors.
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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