Stifel Nicolaus reissued their buy rating on shares of Meritor, Inc. (NYSE:MTOR) in a research report report published on Tuesday. Stifel Nicolaus currently has a $26.00 price target on the auto parts company’s stock, up from their previous price target of $25.00.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Meritor from a sell rating to a hold rating in a research note on Tuesday, July 4th. ValuEngine raised Meritor from a buy rating to a strong-buy rating in a research note on Friday, June 2nd. Royal Bank Of Canada started coverage on Meritor in a research note on Monday, May 15th. They issued an outperform rating and a $22.00 price target for the company. BidaskClub raised Meritor from a sell rating to a hold rating in a research note on Saturday, July 1st. Finally, Barclays PLC increased their price target on Meritor from $16.00 to $17.00 and gave the stock an equal weight rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $22.28.
Shares of Meritor (NYSE:MTOR) opened at 21.45 on Tuesday. The firm has a 50-day moving average price of $18.82 and a 200-day moving average price of $17.18. Meritor has a 12-month low of $9.84 and a 12-month high of $21.61. The firm has a market cap of $1.90 billion, a P/E ratio of 3.48 and a beta of 2.21.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The company had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $846.19 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Meritor will post $1.69 earnings per share for the current fiscal year.
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In other news, SVP Robert H. Speed sold 4,192 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the sale, the senior vice president now owns 30,000 shares in the company, valued at $576,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.87% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System lifted its holdings in shares of Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares during the period. Amalgamated Bank lifted its holdings in shares of Meritor by 2.7% in the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after buying an additional 281 shares during the period. Bank of Montreal Can lifted its holdings in shares of Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after buying an additional 289 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Meritor by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock valued at $1,065,000 after buying an additional 439 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Meritor by 3.5% in the second quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock valued at $259,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.
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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