Meritor Inc (NYSE:MTOR) SVP Joseph A. Plomin sold 15,826 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $25.64, for a total value of $405,778.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Meritor Inc (MTOR) traded down $0.40 during trading hours on Wednesday, reaching $22.57. The company’s stock had a trading volume of 1,510,016 shares, compared to its average volume of 1,483,444. Meritor Inc has a 1 year low of $14.97 and a 1 year high of $29.54. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $1,974.55, a price-to-earnings ratio of 7.56 and a beta of 2.48.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.16. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The firm had revenue of $903.00 million for the quarter, compared to analyst estimates of $836.28 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 29.2% on a year-over-year basis. sell-side analysts expect that Meritor Inc will post 2.7 EPS for the current year.
Several equities analysts recently issued reports on MTOR shares. Piper Jaffray Companies upgraded Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Friday, December 8th. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 31st. Royal Bank of Canada decreased their price target on Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, November 16th. Barclays raised their price target on Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Finally, Longbow Research upgraded Meritor from a “neutral” rating to a “buy” rating in a report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.95.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTOR. Voya Investment Management LLC raised its position in shares of Meritor by 10.8% during the second quarter. Voya Investment Management LLC now owns 38,607 shares of the auto parts company’s stock worth $641,000 after purchasing an additional 3,765 shares during the period. State Street Corp raised its position in shares of Meritor by 4.2% during the second quarter. State Street Corp now owns 1,873,790 shares of the auto parts company’s stock worth $31,123,000 after purchasing an additional 74,896 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Meritor by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock worth $1,065,000 after purchasing an additional 439 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Meritor by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 596 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Meritor during the second quarter worth about $226,000. 93.65% of the stock is currently owned by institutional investors.
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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