Longbow Research downgraded shares of Meritor (NYSE:MTOR) from a buy rating to a neutral rating in a research note published on Monday, Benzinga reports. Longbow Research currently has $23.42 price target on the auto parts company’s stock.
A number of other research firms also recently weighed in on MTOR. Zacks Investment Research downgraded Meritor from a strong-buy rating to a hold rating in a research report on Wednesday, April 24th. Stifel Nicolaus set a $29.00 price target on Meritor and gave the company a buy rating in a research report on Thursday, May 2nd. ValuEngine upgraded Meritor from a sell rating to a hold rating in a research report on Thursday, January 10th. Barclays restated a hold rating and set a $21.00 price target on shares of Meritor in a research report on Sunday, March 31st. Finally, Royal Bank of Canada downgraded Meritor from an outperform rating to a sector perform rating and raised their price target for the company from $18.00 to $19.00 in a research report on Wednesday, January 23rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Meritor presently has a consensus rating of Hold and an average price target of $25.63.
Shares of MTOR stock opened at $22.91 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 1.66. Meritor has a 52-week low of $15.01 and a 52-week high of $25.78. The firm has a market capitalization of $1.95 billion, a P/E ratio of 7.56 and a beta of 2.15.
Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.16. Meritor had a return on equity of 89.66% and a net margin of 5.86%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Meritor will post 3.54 EPS for the current year.
In other news, SVP Joseph A. Plomin sold 10,000 shares of Meritor stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $20.63, for a total value of $206,300.00. Following the transaction, the senior vice president now owns 111,144 shares in the company, valued at $2,292,900.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Chris Villavarayan sold 34,246 shares of Meritor stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $21.31, for a total value of $729,782.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,909 shares of company stock worth $2,252,953. Company insiders own 2.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTOR. JPMorgan Chase & Co. increased its holdings in shares of Meritor by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 1,310,383 shares of the auto parts company’s stock worth $25,369,000 after buying an additional 60,557 shares during the period. MetLife Investment Advisors LLC grew its stake in shares of Meritor by 58.5% in the third quarter. MetLife Investment Advisors LLC now owns 59,143 shares of the auto parts company’s stock worth $1,145,000 after purchasing an additional 21,822 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Meritor by 179.4% in the third quarter. TIAA CREF Investment Management LLC now owns 521,268 shares of the auto parts company’s stock worth $10,092,000 after purchasing an additional 334,730 shares during the last quarter. Morgan Stanley grew its stake in shares of Meritor by 9.6% in the third quarter. Morgan Stanley now owns 2,224,907 shares of the auto parts company’s stock worth $43,074,000 after purchasing an additional 194,686 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Meritor in the third quarter worth about $4,746,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Trailer; and Aftermarket & Industrial.
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