Barclays PLC Reaffirms “Overweight” Rating for Meggitt plc (LON:MGGT)

Barclays PLC reiterated their overweight rating on shares of Meggitt plc (LON:MGGT) in a report issued on Monday morning. Barclays PLC currently has a GBX 540 ($7.03) price target on the stock.

A number of other brokerages have also recently issued reports on MGGT. Deutsche Bank AG dropped their price objective on Meggitt plc from GBX 460 ($5.99) to GBX 450 ($5.86) and set a hold rating on the stock in a research note on Wednesday, August 2nd. J P Morgan Chase & Co reiterated a neutral rating and set a GBX 500 ($6.51) price objective on shares of Meggitt plc in a research note on Friday, April 21st. Liberum Capital reiterated a sell rating and set a GBX 375 ($4.88) price objective on shares of Meggitt plc in a research note on Monday. Finally, Goldman Sachs Group, Inc. (The) reiterated a neutral rating and set a GBX 457 ($5.95) price objective on shares of Meggitt plc in a research note on Thursday, June 22nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of GBX 454.43 ($5.92).

Meggitt plc (LON MGGT) traded up 1.39% during trading on Monday, hitting GBX 503.50. 908,480 shares of the stock were exchanged. The firm’s 50 day moving average price is GBX 494.39 and its 200-day moving average price is GBX 466.62. Meggitt plc has a 1-year low of GBX 407.40 and a 1-year high of GBX 510.50. The stock’s market cap is GBX 3.90 billion.

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In other Meggitt plc news, insider Doug Webb sold 16,869 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of GBX 482 ($6.28), for a total value of £81,308.58 ($105,884.33). Over the last ninety days, insiders acquired 76 shares of company stock worth $37,157.

About Meggitt plc

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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