Mayville Engineering Company, Inc. (NYSE:MEC) Receives Average Rating of “Buy” from Analysts

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $21.50.

Several brokerages recently issued reports on MEC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mayville Engineering in a report on Wednesday, October 8th. Northland Securities raised Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Tuesday, August 12th. Craig Hallum set a $24.00 price target on Mayville Engineering and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Northland Capmk upgraded Mayville Engineering from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th.

Mayville Engineering Price Performance

Shares of NYSE MEC opened at $17.76 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.82. Mayville Engineering has a one year low of $11.72 and a one year high of $19.05. The firm has a market capitalization of $360.81 million, a P/E ratio of 30.62 and a beta of 1.13. The company’s fifty day moving average is $15.61 and its two-hundred day moving average is $15.35.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. The firm had revenue of $144.31 million during the quarter, compared to analysts’ expectations of $141.36 million. Analysts forecast that Mayville Engineering will post 0.31 EPS for the current fiscal year.

Insider Transactions at Mayville Engineering

In other news, EVP Ryan F. Raber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $16.68, for a total transaction of $250,200.00. Following the completion of the transaction, the executive vice president owned 91,018 shares of the company’s stock, valued at $1,518,180.24. This represents a 14.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 7.20% of the company’s stock.

Institutional Trading of Mayville Engineering

Several institutional investors have recently made changes to their positions in MEC. Sheets Smith Wealth Management increased its holdings in shares of Mayville Engineering by 1.8% during the 2nd quarter. Sheets Smith Wealth Management now owns 38,585 shares of the company’s stock worth $616,000 after buying an additional 680 shares during the last quarter. Raymond James Financial Inc. increased its stake in Mayville Engineering by 3.0% during the third quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after acquiring an additional 740 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Mayville Engineering by 20.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock worth $127,000 after purchasing an additional 1,359 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Mayville Engineering by 109.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock valued at $38,000 after purchasing an additional 1,435 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Mayville Engineering by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 19,969 shares of the company’s stock worth $319,000 after purchasing an additional 1,526 shares during the period. 45.44% of the stock is owned by hedge funds and other institutional investors.

About Mayville Engineering

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.