Meritor (MTOR) Rating Reiterated by Barclays

Meritor (NYSE:MTOR)‘s stock had its “hold” rating restated by stock analysts at Barclays in a research report issued to clients and investors on Wednesday. They currently have a $22.00 price objective on the auto parts company’s stock. Barclays’ target price indicates a potential upside of 27.02% from the company’s current price.

A number of other brokerages have also commented on MTOR. Stifel Nicolaus set a $29.00 price target on Meritor and gave the stock a “buy” rating in a report on Wednesday, August 1st. ValuEngine upgraded Meritor from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Piper Jaffray Companies set a $37.00 price target on Meritor and gave the stock a “buy” rating in a report on Friday, September 14th. Zacks Investment Research lowered Meritor from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, TheStreet upgraded Meritor from a “c+” rating to a “b-” rating in a report on Friday, August 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Meritor has an average rating of “Hold” and a consensus price target of $29.14.

MTOR opened at $17.32 on Wednesday. Meritor has a twelve month low of $17.10 and a twelve month high of $29.54. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.15 and a quick ratio of 0.70. The company has a market capitalization of $1.53 billion, a P/E ratio of 6.16 and a beta of 2.43.

Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 1st. The auto parts company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Meritor had a return on equity of 88.32% and a net margin of 8.06%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts expect that Meritor will post 2.96 earnings per share for the current year.

In other news, CEO Jeffrey A. Craig sold 34,678 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $21.84, for a total transaction of $757,367.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in shares of Meritor during the second quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. bought a new stake in Meritor in the second quarter valued at $252,000. GAM Holding AG bought a new stake in Meritor in the second quarter valued at $253,000. PNC Financial Services Group Inc. grew its position in Meritor by 4,972.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,138 shares of the auto parts company’s stock valued at $269,000 after acquiring an additional 12,879 shares during the period. Finally, First Hawaiian Bank bought a new stake in Meritor in the third quarter valued at $273,000. Institutional investors and hedge funds own 90.85% of the company’s stock.

Meritor Company Profile

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.

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Analyst Recommendations for Meritor (NYSE:MTOR)

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