Meritor (NYSE:MTOR) had its price objective boosted by investment analysts at Barclays from $24.00 to $25.00 in a report issued on Friday, January 26th. The firm presently has an “equal weight” rating on the auto parts company’s stock. Barclays’ target price suggests a potential downside of 8.76% from the company’s previous close.
A number of other research firms have also recently commented on MTOR. Piper Jaffray Companies raised Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Friday, December 8th. Royal Bank of Canada dropped their price objective on Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, November 16th. Zacks Investment Research cut Meritor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Longbow Research raised Meritor from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 24th. Finally, ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.95.
Shares of Meritor (MTOR) opened at $27.40 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.17 and a quick ratio of 0.69. The firm has a market capitalization of $2,348.23, a P/E ratio of 9.23 and a beta of 2.45. Meritor has a 12-month low of $14.97 and a 12-month high of $29.54.
Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, January 31st. The auto parts company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The company had revenue of $903.00 million during the quarter, compared to the consensus estimate of $836.28 million. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. equities research analysts forecast that Meritor will post 2.7 EPS for the current fiscal year.
In related news, CEO Jeffrey A. Craig sold 50,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.12, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief executive officer now owns 427,310 shares in the company, valued at approximately $12,443,267.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey A. Craig sold 22,368 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $23.38, for a total value of $522,963.84. Following the transaction, the chief executive officer now owns 477,310 shares of the company’s stock, valued at approximately $11,159,507.80. The disclosure for this sale can be found here. Insiders have sold a total of 214,290 shares of company stock valued at $5,520,211 in the last 90 days. 2.32% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MTOR. Schwab Charles Investment Management Inc. raised its position in Meritor by 7.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 594,077 shares of the auto parts company’s stock valued at $9,868,000 after purchasing an additional 41,624 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Meritor by 3.5% in the 2nd quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock worth $259,000 after acquiring an additional 528 shares in the last quarter. Swiss National Bank raised its position in shares of Meritor by 3.8% in the 2nd quarter. Swiss National Bank now owns 140,600 shares of the auto parts company’s stock worth $2,335,000 after acquiring an additional 5,100 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Meritor by 2.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 224,523 shares of the auto parts company’s stock worth $3,729,000 after acquiring an additional 4,320 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Meritor by 30.4% in the 2nd quarter. Nationwide Fund Advisors now owns 244,454 shares of the auto parts company’s stock worth $4,060,000 after acquiring an additional 56,972 shares in the last quarter. 97.46% of the stock is owned by institutional investors and hedge funds.
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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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