Piper Jaffray Companies upgraded shares of Meritor (NYSE:MTOR) from an underweight rating to an overweight rating in a research report sent to investors on Friday, December 8th, MarketBeat reports. Piper Jaffray Companies currently has $30.00 price target on the auto parts company’s stock.
Other research analysts have also recently issued research reports about the stock. KeyCorp reissued a buy rating and set a $23.00 target price on shares of Meritor in a report on Friday, September 8th. Buckingham Research began coverage on shares of Meritor in a research report on Tuesday, September 5th. They set a buy rating and a $25.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Meritor from $19.00 to $21.50 and gave the company a neutral rating in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Meritor from a buy rating to a strong-buy rating in a research report on Friday, September 22nd. Finally, Citigroup restated a neutral rating and set a $22.00 price target (up previously from $19.00) on shares of Meritor in a research report on Tuesday, September 12th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $26.14.
Shares of Meritor (NYSE MTOR) traded down $0.33 on Friday, reaching $23.13. 971,657 shares of the company’s stock traded hands, compared to its average volume of 870,750. The firm has a market capitalization of $2,060.00, a P/E ratio of 6.35 and a beta of 2.28. Meritor has a 52 week low of $12.51 and a 52 week high of $27.96. The company has a current ratio of 1.10, a quick ratio of 0.78 and a debt-to-equity ratio of 2.55.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The business had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $836.39 million. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. research analysts anticipate that Meritor will post 2.43 earnings per share for the current fiscal year.
In other Meritor 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 SEC, which can be accessed through the SEC website. Also, SVP Chris Villavarayan sold 4,000 shares of Meritor stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $23.53, for a total transaction of $94,120.00. The disclosure for this sale can be found here. Insiders have sold 146,290 shares of company stock worth $3,549,231 over the last 90 days. 2.32% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. purchased a new stake in Meritor during the 3rd quarter worth approximately $37,927,000. Russell Investments Group Ltd. increased its stake in Meritor by 340.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock worth $21,218,000 after buying an additional 630,702 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Meritor during the 3rd quarter worth approximately $16,311,000. Old Mutual Global Investors UK Ltd. increased its stake 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 period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Meritor during the 3rd quarter worth approximately $13,493,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.
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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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