Meggitt (MGGT) Stock Rating Reaffirmed by Citigroup

Meggitt (LON:MGGT)‘s stock had its “buy” rating restated by research analysts at Citigroup in a report released on Thursday, ThisIsMoney.Co.Uk reports.

A number of other research analysts have also recently issued reports on MGGT. Goldman Sachs Group lifted their price objective on Meggitt from GBX 585 ($7.64) to GBX 599 ($7.83) and gave the company a “neutral” rating in a report on Tuesday, April 30th. HSBC initiated coverage on Meggitt in a report on Tuesday, February 12th. They set a “buy” rating and a GBX 645 ($8.43) price objective for the company. UBS Group reissued a “sell” rating on shares of Meggitt in a report on Wednesday, February 27th. Jefferies Financial Group reissued a “buy” rating and set a GBX 635 ($8.30) price objective on shares of Meggitt in a report on Wednesday, February 6th. Finally, Credit Suisse Group lifted their price objective on Meggitt from GBX 450 ($5.88) to GBX 465 ($6.08) and gave the company an “underperform” rating in a report on Wednesday, March 6th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of GBX 569.63 ($7.44).

MGGT opened at GBX 526.40 ($6.88) on Thursday. Meggitt has a fifty-two week low of GBX 456.10 ($5.96) and a fifty-two week high of GBX 583.80 ($7.63). The company has a debt-to-equity ratio of 50.39, a quick ratio of 1.01 and a current ratio of 1.80. The firm has a market cap of $4.06 billion and a price-to-earnings ratio of 23.09.

In other Meggitt news, insider Tony Wood purchased 227 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of GBX 546 ($7.13) per share, with a total value of £1,239.42 ($1,619.52). Also, insider Marina Thomas sold 3,813 shares of Meggitt stock in a transaction dated Monday, April 8th. The shares were sold at an average price of GBX 524 ($6.85), for a total value of £19,980.12 ($26,107.57). Over the last three months, insiders have acquired 282 shares of company stock valued at $153,145.

About Meggitt

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

Further Reading: What are different types of coverage ratios?

Analyst Recommendations for Meggitt (LON:MGGT)

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