Meritor (NYSE:MTOR) had its price target trimmed by Buckingham Research from $33.00 to $30.00 in a report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the auto parts company’s stock.
Several other analysts also recently issued reports on the stock. Longbow Research downgraded shares of Meritor from a buy rating to a neutral rating and set a $23.42 price objective for the company. in a research report on Monday, May 6th. Stifel Nicolaus set a $29.00 price objective on shares of Meritor and gave the company a buy rating in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Meritor from a hold rating to a strong-buy rating and set a $26.00 price objective for the company in a research report on Thursday, August 1st. Finally, ValuEngine downgraded shares of Meritor from a hold rating to a sell rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $26.18.
NYSE MTOR opened at $17.98 on Friday. Meritor has a 12 month low of $15.01 and a 12 month high of $25.78. The company has a 50-day moving average of $22.34 and a 200-day moving average of $22.04. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76. The company has a market cap of $1.44 billion, a P/E ratio of 5.93 and a beta of 2.22.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.25. Meritor had a net margin of 6.31% and a return on equity of 83.77%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Meritor will post 3.72 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc bought a new position in Meritor during the first quarter worth $122,000. Quantamental Technologies LLC lifted its stake in Meritor by 84.1% during the first quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,201 shares during the last quarter. ICM Asset Management Inc. WA lifted its stake in Meritor by 0.3% during the second quarter. ICM Asset Management Inc. WA now owns 222,730 shares of the auto parts company’s stock worth $5,401,000 after purchasing an additional 730 shares during the last quarter. Legal & General Group Plc lifted its stake in Meritor by 1.9% during the fourth quarter. Legal & General Group Plc now owns 66,243 shares of the auto parts company’s stock worth $1,121,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Boston Advisors LLC lifted its stake in Meritor by 12.9% in the first quarter. Boston Advisors LLC now owns 149,540 shares of the auto parts company’s stock valued at $3,043,000 after buying an additional 17,030 shares during the last quarter. Hedge funds and other institutional investors own 96.51% 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; and Aftermarket, Industrial and Trailer.
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