Mayville Engineering Company, Inc. (MEC) – What Are Brokerages Thinking About This Stock?

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.75.

Several research firms have recently commented on MEC. DA Davidson upped their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Northland Securities set a $40.00 target price on shares of Mayville Engineering in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Mayville Engineering in a research report on Tuesday. Finally, Citigroup raised their price objective on Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 13th.

Mayville Engineering Trading Down 1.2%

Shares of NYSE:MEC opened at $15.09 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.96. The company has a market cap of $384.82 million, a P/E ratio of -17.97 and a beta of 1.44. The stock’s fifty day moving average price is $19.75 and its 200-day moving average price is $24.61. Mayville Engineering has a 1 year low of $12.25 and a 1 year high of $38.76.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $150.59 million. Mayville Engineering had a negative net margin of 2.95% and a negative return on equity of 6.63%. Sell-side analysts expect that Mayville Engineering will post -0.22 earnings per share for the current year.

Insider Transactions at Mayville Engineering

In other news, SVP Sean Leuba sold 12,855 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $25.44, for a total value of $327,031.20. Following the completion of the sale, the senior vice president directly owned 6,633 shares of the company’s stock, valued at $168,743.52. This trade represents a 65.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mayville Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of Mayville Engineering in the second quarter worth about $213,000. Squarepoint Ops LLC boosted its position in Mayville Engineering by 115.9% in the 2nd quarter. Squarepoint Ops LLC now owns 238,766 shares of the company’s stock valued at $8,944,000 after buying an additional 128,197 shares during the period. Parkside Financial Bank & Trust boosted its position in Mayville Engineering by 4,657.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,665 shares of the company’s stock valued at $62,000 after buying an additional 1,630 shares during the period. Wellington Management Group LLP bought a new position in Mayville Engineering in the 2nd quarter worth about $17,890,000. Finally, Empowered Funds LLC bought a new position in Mayville Engineering in the 2nd quarter worth about $4,367,000. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE: MEC) is a manufacturing services provider headquartered in Mayville, Wisconsin. The company develops and produces engineered metal components, assemblies and related products for original equipment manufacturers (OEMs).

MEC offers a range of vertically integrated services, including product and process engineering, tooling and fixture design, metal stamping, fabrication, machining, tube bending, robotic and manual welding, powder coating, and final assembly.