Shares of Meritor, Inc. (NYSE:MTOR) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $24.72.
MTOR has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $25.00 price objective on shares of Meritor in a research report on Tuesday, September 5th. Citigroup Inc. reiterated a “neutral” rating and set a $22.00 price objective (up previously from $19.00) on shares of Meritor in a research report on Tuesday, September 12th. J P Morgan Chase & Co lifted their price objective on Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Meritor in a research report on Monday, September 4th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $21.00 price objective (up previously from $17.00) on shares of Meritor in a research report on Tuesday, September 12th.
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In other news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.87% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in Meritor by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after acquiring an additional 596 shares in the last quarter. New York State Teachers Retirement System lifted its position in Meritor by 1.4% during the 1st quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock worth $125,000 after acquiring an additional 100 shares in the last quarter. Federated Investors Inc. PA lifted its position in Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after acquiring an additional 1,491 shares in the last quarter. Amalgamated Bank lifted its position in Meritor by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after acquiring an additional 281 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in Meritor during the 2nd quarter worth approximately $186,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.
Meritor (MTOR) traded down $0.53 during trading hours on Monday, hitting $26.22. The stock had a trading volume of 1,326,658 shares, compared to its average volume of 1,145,227. The firm has a market cap of $2,369.14, a P/E ratio of 16.93 and a beta of 2.34. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of -19.50. Meritor has a fifty-two week low of $9.89 and a fifty-two week high of $27.96.
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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