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.
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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.
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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