Meggitt plc (MGGT) Receives Average Recommendation of “Hold” from Analysts

Meggitt plc (LON:MGGT) has been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is GBX 459.38 ($5.98).

A number of research analysts have recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and set a GBX 540 ($7.03) target price on shares of Meggitt plc in a research note on Monday. Liberum Capital reissued a “sell” rating and issued a GBX 375 ($4.88) price objective on shares of Meggitt plc in a research note on Monday. J P Morgan Chase & Co reissued an “overweight” rating and issued a GBX 575 ($7.49) price objective on shares of Meggitt plc in a research note on Monday, July 24th. 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. Finally, Citigroup Inc. reissued a “neutral” rating and issued a GBX 500 ($6.51) price objective on shares of Meggitt plc in a research note on Friday, May 12th.

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 transaction of £81,308.58 ($105,884.33). In the last 90 days, insiders have acquired 76 shares of company stock valued at $37,157.

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Meggitt plc (MGGT) traded up 1.39% during midday trading on Tuesday, reaching GBX 503.50. The company’s stock had a trading volume of 1,800,300 shares. The company’s 50-day moving average is GBX 494.39 and its 200 day moving average is GBX 466.62. The firm’s market cap is GBX 3.90 billion. Meggitt plc has a 12-month low of GBX 407.40 and a 12-month high of GBX 510.50.

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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