Shares of Meritor Inc (NYSE:MTOR) have earned an average recommendation of “Buy” from the seven analysts that are currently covering the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $14.00.
MTOR has been the topic of several research reports. Zacks Investment Research upgraded shares of Meritor from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. Stifel Nicolaus upgraded shares of Meritor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $17.00 in a research note on Thursday, January 26th. KeyCorp upgraded shares of Meritor from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Tuesday, February 21st. Finally, Barclays PLC raised their price target on shares of Meritor from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, March 23rd.
In other Meritor news, SVP Timothy J. Heffron sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $15.15, for a total value of $42,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ivor J. Evans sold 160,925 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $15.00, for a total transaction of $2,413,875.00. Following the completion of the sale, the director now owns 576,762 shares in the company, valued at approximately $8,651,430. The disclosure for this sale can be found here. Insiders sold 169,725 shares of company stock worth $2,546,715 in the last 90 days. 2.87% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Convergence Investment Partners LLC bought a new position in Meritor during the third quarter valued at about $267,000. Towle & Co. boosted its position in Meritor by 7.5% in the third quarter. Towle & Co. now owns 2,526,610 shares of the auto parts company’s stock valued at $28,121,000 after buying an additional 176,916 shares during the period. Engineers Gate Manager LP bought a new position in Meritor during the third quarter valued at about $317,000. Rhumbline Advisers boosted its position in Meritor by 1.1% in the third quarter. Rhumbline Advisers now owns 116,974 shares of the auto parts company’s stock valued at $1,302,000 after buying an additional 1,300 shares during the period. Finally, BlackRock Inc. boosted its position in Meritor by 1.4% in the third quarter. BlackRock Inc. now owns 30,342 shares of the auto parts company’s stock valued at $338,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
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Meritor (NYSE:MTOR) traded up 2.76% on Friday, hitting $16.74. The stock had a trading volume of 692,944 shares. The firm’s 50-day moving average is $16.58 and its 200-day moving average is $13.88. Meritor has a 52-week low of $6.30 and a 52-week high of $17.20. The company has a market cap of $1.48 billion, a P/E ratio of 2.70 and a beta of 2.31.
Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, February 1st. The auto parts company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. The firm had revenue of $699 million for the quarter, compared to analyst estimates of $721.43 million. Meritor had a net margin of 17.48% and a negative return on equity of 36.22%. Meritor’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Meritor will post $1.40 earnings per share for the current fiscal year.
Meritor Company Profile
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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