Meritor, Inc. (MTOR) Given New $30.00 Price Target at Royal Bank Of Canada

Meritor, Inc. (NYSE:MTOR) had its price objective lowered by investment analysts at Royal Bank Of Canada from $32.00 to $30.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the auto parts company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 19.57% from the company’s previous close.

MTOR has been the subject of several other reports. KeyCorp reaffirmed a “buy” rating and issued a $23.00 target price on shares of Meritor in a report on Friday, September 8th. Buckingham Research started coverage on Meritor in a report on Tuesday, September 5th. They issued a “buy” rating and a $25.00 target price for the company. Barclays PLC upped their target price on Meritor from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. J P Morgan Chase & Co upped their target price on Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a report on Tuesday, September 12th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $22.00 target price (up from $19.00) on shares of Meritor in a report on Tuesday, September 12th. Five 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 stock. The stock has an average rating of “Buy” and a consensus price target of $25.75.

Meritor (NYSE MTOR) opened at $25.09 on Thursday. The stock has a market capitalization of $2,283.23, a P/E ratio of 16.32 and a beta of 2.34. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of -19.50. Meritor has a twelve month low of $11.34 and a twelve month high of $27.96.

Meritor (NYSE:MTOR) last released its earnings results on Tuesday, November 14th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.21. The company had revenue of $922.00 million during the quarter, compared to analyst estimates of $836.39 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. Meritor’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. analysts anticipate that Meritor will post 1.72 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Meritor, Inc. (MTOR) Given New $30.00 Price Target at Royal Bank Of Canada” was first posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.themarketsdaily.com/2017/11/16/meritor-inc-mtor-given-new-30-00-price-target-at-royal-bank-of-canada.html.

A number of institutional investors have recently bought and sold shares of MTOR. BlackRock Inc. lifted its stake in Meritor by 22,259.3% in the first quarter. BlackRock Inc. now owns 5,991,169 shares of the auto parts company’s stock valued at $102,629,000 after purchasing an additional 5,964,374 shares during the last quarter. Rothschild Asset Management Inc. purchased a new position in Meritor in the third quarter valued at approximately $37,927,000. SG Capital Management LLC purchased a new position in Meritor in the second quarter valued at approximately $15,727,000. Russell Investments Group Ltd. lifted its stake in Meritor by 340.9% in the third quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock valued at $21,218,000 after purchasing an additional 630,702 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Meritor in the third quarter valued at approximately $16,311,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

About Meritor

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.

Analyst Recommendations for Meritor (NYSE:MTOR)

Receive News & Ratings for Meritor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply