MAYVILLE ENGR C/SH (NYSE:MEC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of MAYVILLE ENGR C/SH (NYSE:MEC) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Mayville Engineering Company Inc. provides prototyping and tooling, production fabrication, coating, assembly and aftermarket services. It serves heavy and medium duty commercial vehicle, construction, powersports, agriculture, military and other end markets. The company also provides engineering and development services. It offers conventional and CNC stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. Mayville Engineering Company Inc. is based in Wisconsin, United States. “

Other equities research analysts have also issued research reports about the company. UBS Group initiated coverage on MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a neutral rating and a $17.00 price objective on the stock. William Blair initiated coverage on MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set an outperform rating on the stock. Robert W. Baird initiated coverage on MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set an outperform rating and a $19.00 price objective on the stock. Jefferies Financial Group initiated coverage on MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a buy rating on the stock. Finally, Citigroup initiated coverage on MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $18.00.

MAYVILLE ENGR C/SH stock opened at $11.84 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.37 and a debt-to-equity ratio of 0.43. MAYVILLE ENGR C/SH has a 52 week low of $11.16 and a 52 week high of $17.40. The stock’s fifty day simple moving average is $13.87.

MAYVILLE ENGR C/SH (NYSE:MEC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.15. The business had revenue of $145.13 million for the quarter, compared to analyst estimates of $144.43 million. As a group, research analysts forecast that MAYVILLE ENGR C/SH will post 0.75 EPS for the current year.

In related news, Director Timothy L. Christen purchased 7,500 shares of MAYVILLE ENGR C/SH stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $96,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Clifford O. Sanderson purchased 2,000 shares of MAYVILLE ENGR C/SH stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $14.48 per share, for a total transaction of $28,960.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 64,434 shares of company stock worth $826,899 in the last 90 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter valued at $288,000. Pentwater Capital Management LP bought a new position in MAYVILLE ENGR C/SH during the second quarter valued at $1,242,000. Morgan Stanley bought a new position in MAYVILLE ENGR C/SH during the second quarter valued at $834,000. Gratia Capital LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter valued at $1,147,000. Finally, Putnam Investments LLC bought a new position in MAYVILLE ENGR C/SH during the second quarter valued at $2,465,000. Hedge funds and other institutional investors own 6.22% of the company’s stock.

MAYVILLE ENGR C/SH Company Profile

There is no company description available for Mayville Engineering Company Inc

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Analyst Recommendations for MAYVILLE ENGR C/SH (NYSE:MEC)

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