Mayville Engineering Company, Inc. (NYSE:MEC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.50.

MEC has been the topic of several recent analyst reports. Northland Securities set a $30.00 price objective on shares of Mayville Engineering in a report on Thursday. Zacks Research upgraded shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson upped their price objective on shares of Mayville Engineering from $21.00 to $23.00 and gave the company a “buy” rating in a report on Monday, March 9th. Citigroup upped their price objective on shares of Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday. Finally, Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th.

Mayville Engineering Stock Up 4.2%

NYSE:MEC opened at $27.08 on Friday. Mayville Engineering has a 1-year low of $12.10 and a 1-year high of $27.20. The company has a 50-day moving average of $19.68 and a 200 day moving average of $18.74. The firm has a market cap of $554.79 million, a PE ratio of -33.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 0.92.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. The company had revenue of $144.78 million during the quarter, compared to analyst estimates of $139.18 million. Mayville Engineering had a negative net margin of 2.93% and a negative return on equity of 5.77%. As a group, research analysts anticipate that Mayville Engineering will post -0.28 EPS for the current fiscal year.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, insider Sean P. Leuba sold 2,500 shares of Mayville Engineering stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $20.07, for a total transaction of $50,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mayville Engineering

Large investors have recently made changes to their positions in the company. 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 during the period. Clearstead Advisors LLC lifted its stake in shares of Mayville Engineering by 194.9% in the 4th quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock valued at $39,000 after purchasing an additional 1,384 shares during the period. State of Alaska Department of Revenue acquired a new stake in Mayville Engineering in the 4th quarter valued at $73,000. Picton Mahoney Asset Management acquired a new stake in Mayville Engineering in the 4th quarter valued at $109,000. Finally, AlphaQuest LLC increased its holdings in Mayville Engineering by 26.2% in the 3rd quarter. AlphaQuest LLC now owns 8,342 shares of the company’s stock worth $115,000 after acquiring an additional 1,733 shares in the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE:MEC) is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.