Mayville Engineering (NYSE:MEC) Now Covered by DA Davidson

Investment analysts at DA Davidson assumed coverage on shares of Mayville Engineering (NYSE:MEC) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. DA Davidson’s target price would suggest a potential upside of 53.52% from the stock’s previous close.

Separately, Citigroup decreased their price target on shares of Mayville Engineering from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, April 14th.

Mayville Engineering Stock Performance

Shares of Mayville Engineering stock opened at $14.98 on Tuesday. Mayville Engineering has a one year low of $11.72 and a one year high of $23.02. The firm has a market capitalization of $306.55 million, a price-to-earnings ratio of 25.39 and a beta of 1.18. The business has a 50-day simple moving average of $14.11 and a 200 day simple moving average of $14.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $135.58 million during the quarter, compared to analysts’ expectations of $134.52 million. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. During the same quarter last year, the firm posted $0.22 earnings per share. On average, research analysts anticipate that Mayville Engineering will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mayville Engineering

A number of institutional investors and hedge funds have recently bought and sold shares of MEC. AlphaQuest LLC purchased a new stake in shares of Mayville Engineering in the fourth quarter valued at about $38,000. GAMMA Investing LLC increased its stake in Mayville Engineering by 9,690.3% in the 1st quarter. GAMMA Investing LLC now owns 3,035 shares of the company’s stock valued at $41,000 after buying an additional 3,004 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Mayville Engineering during the 4th quarter worth approximately $44,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Mayville Engineering in the 1st quarter worth approximately $152,000. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Mayville Engineering in the fourth quarter valued at approximately $177,000. 45.44% of the stock is owned by hedge funds and other institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.