Meritor (NYSE:MTOR) has been assigned a $37.00 target price by analysts at Piper Jaffray Companies in a note issued to investors on Friday, September 14th. The brokerage currently has a “buy” rating on the auto parts company’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 92.61% from the stock’s previous close.
Other analysts also recently issued reports about the company. ValuEngine downgraded Meritor from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research downgraded Meritor from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Barclays raised their price target on Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Stifel Nicolaus set a $29.00 price target on Meritor and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, TheStreet upgraded Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.57.
MTOR traded down $0.92 during trading on Friday, reaching $19.21. 685,925 shares of the company traded hands, compared to its average volume of 990,860. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.15 and a quick ratio of 0.70. The firm has a market cap of $1.67 billion, a P/E ratio of 10.22 and a beta of 2.44. Meritor has a 12-month low of $17.28 and a 12-month high of $29.54.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 1st. The auto parts company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.11. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.06 billion. Meritor had a return on equity of 88.32% and a net margin of 8.06%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, sell-side analysts anticipate that Meritor will post 2.96 earnings per share for the current year.
In other news, CEO Jeffrey A. Craig sold 34,678 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.84, for a total transaction of $757,367.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.32% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Meritor by 4.1% in the second quarter. BlackRock Inc. now owns 6,259,900 shares of the auto parts company’s stock valued at $128,766,000 after purchasing an additional 246,024 shares during the last quarter. LSV Asset Management grew its stake in Meritor by 5.6% in the second quarter. LSV Asset Management now owns 4,735,475 shares of the auto parts company’s stock valued at $97,408,000 after purchasing an additional 250,544 shares during the last quarter. Millennium Management LLC grew its stake in Meritor by 38.3% in the first quarter. Millennium Management LLC now owns 2,119,759 shares of the auto parts company’s stock valued at $43,582,000 after purchasing an additional 587,065 shares during the last quarter. Morgan Stanley grew its stake in Meritor by 4.0% in the second quarter. Morgan Stanley now owns 2,030,221 shares of the auto parts company’s stock valued at $41,762,000 after purchasing an additional 77,915 shares during the last quarter. Finally, Royce & Associates LP grew its stake in Meritor by 44.4% in the second quarter. Royce & Associates LP now owns 1,796,009 shares of the auto parts company’s stock valued at $36,944,000 after purchasing an additional 551,936 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.
Meritor Company Profile
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.
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