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.
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.
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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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