BidaskClub upgraded shares of Meritor, Inc. (NYSE:MTOR) from a hold rating to a buy rating in a report published on Wednesday morning.
Several other equities research analysts also recently issued reports on MTOR. Stifel Nicolaus set a $25.00 price target on Meritor and gave the company a buy rating in a research report on Wednesday, August 2nd. KeyCorp reaffirmed a buy rating and issued a $23.00 price target on shares of Meritor in a research report on Friday, September 8th. Citigroup Inc. reaffirmed a neutral rating and issued a $22.00 price target (up from $19.00) on shares of Meritor in a research report on Tuesday. J P Morgan Chase & Co raised their price target on Meritor from $19.00 to $21.50 and gave the company a neutral rating in a research report on Tuesday. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $21.00 price target (up from $17.00) on shares of Meritor in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Meritor currently has an average rating of Buy and a consensus target price of $22.28.
Meritor (NYSE:MTOR) opened at 22.58 on Wednesday. The firm has a market cap of $2.00 billion, a PE ratio of 3.66 and a beta of 2.21. Meritor has a 1-year low of $9.84 and a 1-year high of $22.90. The company has a 50 day moving average price of $19.31 and a 200 day moving average price of $17.33.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.20. The company had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. On average, equities research analysts forecast that Meritor will post $1.69 earnings per share for the current year.
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In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now owns 30,000 shares in the company, valued at $576,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.87% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in shares of Meritor in the first quarter valued at approximately $116,000. New York State Teachers Retirement System raised its stake in shares of Meritor by 1.4% in the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after acquiring an additional 100 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Meritor by 21.2% in the second quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock valued at $141,000 after acquiring an additional 1,491 shares during the last quarter. Amalgamated Bank raised its stake in shares of Meritor by 2.7% in the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after acquiring an additional 281 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Meritor in the second quarter valued at approximately $186,000. Institutional investors own 93.23% 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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