Meritor (MTOR) Stock Rating Upgraded by Piper Jaffray Companies

Meritor (NYSE:MTOR) was upgraded by investment analysts at Piper Jaffray Companies from an “underweight” rating to an “overweight” rating in a research note issued on Friday. The brokerage currently has a $30.00 price objective on the auto parts company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 24.95% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $25.00 target price on shares of Meritor in a research note on Tuesday, September 5th. J P Morgan Chase & Co boosted their target price on shares of Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 12th. Citigroup reiterated a “neutral” rating and set a $22.00 target price (up previously from $19.00) on shares of Meritor in a research note on Tuesday, September 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $23.00 target price on shares of Meritor in a research note on Monday, September 4th. Finally, Barclays set a $22.00 target price on shares of Meritor and gave the stock a “hold” rating in a research note on Friday, October 20th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Meritor has a consensus rating of “Buy” and a consensus target price of $26.14.

Meritor (NYSE MTOR) opened at $24.01 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.78 and a current ratio of 1.10. The company has a market cap of $2,126.88, a price-to-earnings ratio of 12.91 and a beta of 2.28. Meritor has a 12 month low of $12.38 and a 12 month high of $27.96.

Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.15. The firm had revenue of $922.00 million during the quarter, compared to the consensus estimate of $836.39 million. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. analysts expect that Meritor will post 2.4 EPS for the current year.

In related news, VP Paul Bialy sold 2,191 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.64, for a total value of $53,986.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Chris Villavarayan sold 14,053 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $346,265.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,226 shares of company stock valued at $2,493,539. 2.87% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its position in Meritor by 81.7% in the third quarter. Public Employees Retirement System of Ohio now owns 58,815 shares of the auto parts company’s stock valued at $1,530,000 after acquiring an additional 26,442 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Meritor in the third quarter valued at about $743,000. Point72 Asset Management L.P. purchased a new stake in shares of Meritor in the third quarter valued at about $4,684,000. Beacon Investment Advisory Services Inc. raised its holdings in shares of Meritor by 100.0% in the third quarter. Beacon Investment Advisory Services Inc. now owns 175,112 shares of the auto parts company’s stock valued at $4,554,000 after buying an additional 87,556 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of Meritor in the third quarter valued at about $297,000. 96.20% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Meritor (MTOR) Stock Rating Upgraded by Piper Jaffray Companies” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://sportsperspectives.com/2017/12/10/meritor-mtor-stock-rating-upgraded-by-piper-jaffray-companies.html.

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.

Analyst Recommendations for Meritor (NYSE:MTOR)

Receive News & Ratings for Meritor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply