Meritor (NYSE:MTOR) Given New $21.00 Price Target at UBS Group

Meritor (NYSE:MTOR) had its target price trimmed by UBS Group from $25.00 to $21.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the auto parts company’s stock.

Other equities research analysts have also recently issued reports about the company. Buckingham Research cut their target price on Meritor from $33.00 to $30.00 and set a buy rating for the company in a research note on Friday, August 16th. ValuEngine downgraded shares of Meritor from a sell rating to a strong sell rating in a report on Wednesday, September 4th. Citigroup lowered their price target on shares of Meritor from $25.00 to $21.00 and set a neutral rating for the company in a report on Monday, August 26th. Finally, Zacks Investment Research upgraded shares of Meritor from a hold rating to a strong-buy rating and set a $26.00 price target for the company in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Meritor has a consensus rating of Hold and a consensus price target of $24.18.

NYSE MTOR opened at $20.21 on Thursday. The business has a fifty day moving average price of $19.18 and a two-hundred day moving average price of $21.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76. Meritor has a fifty-two week low of $15.01 and a fifty-two week high of $25.78. The stock has a market capitalization of $1.61 billion, a PE ratio of 6.67 and a beta of 2.32.

Meritor (NYSE:MTOR) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. Meritor had a return on equity of 83.77% and a net margin of 6.31%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Meritor will post 3.72 earnings per share for the current year.

In other news, SVP Boise April Miller sold 31,830 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $17.38, for a total transaction of $553,205.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MTOR. Nuveen Asset Management LLC acquired a new stake in Meritor in the second quarter valued at $36,935,000. Price T Rowe Associates Inc. MD increased its holdings in Meritor by 2,068.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,154,290 shares of the auto parts company’s stock valued at $27,992,000 after purchasing an additional 1,101,070 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Meritor in the first quarter valued at $21,010,000. Penserra Capital Management LLC acquired a new stake in Meritor in the first quarter valued at $13,981,000. Finally, Prudential Financial Inc. increased its holdings in Meritor by 67.6% in the second quarter. Prudential Financial Inc. now owns 1,167,951 shares of the auto parts company’s stock valued at $28,322,000 after purchasing an additional 471,038 shares during the period. Institutional investors and hedge funds own 95.66% 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; and Aftermarket, Industrial and Trailer.

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Analyst Recommendations for Meritor (NYSE:MTOR)

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