Meritor, Inc. (NYSE:MTOR) Given Consensus Rating of “Buy” by Brokerages

Meritor, Inc. (NYSE:MTOR) has received a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.14.

Several research analysts recently issued reports on MTOR shares. Zacks Investment Research raised Meritor from a “strong sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Tuesday, July 6th. Royal Bank of Canada raised Meritor from a “sector perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Wednesday, May 5th. Citigroup raised Meritor from a “neutral” rating to a “buy” rating in a report on Thursday, July 1st. TheStreet lowered Meritor from a “b” rating to a “c” rating in a report on Tuesday, May 4th. Finally, Bank of America assumed coverage on Meritor in a report on Friday, June 18th. They issued a “buy” rating and a $30.00 price objective on the stock.

NYSE:MTOR traded down $0.87 during mid-day trading on Thursday, hitting $22.96. 8,076 shares of the company’s stock traded hands, compared to its average volume of 509,127. The stock has a fifty day moving average of $24.43. Meritor has a twelve month low of $19.51 and a twelve month high of $33.56. The company has a market cap of $1.67 billion, a P/E ratio of 28.49 and a beta of 2.08. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 1.93.

Meritor (NYSE:MTOR) last announced its earnings results on Tuesday, May 4th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Meritor had a return on equity of 13.68% and a net margin of 1.91%. The company had revenue of $983.00 million for the quarter, compared to analyst estimates of $944.57 million. During the same period in the prior year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts expect that Meritor will post 2.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of MTOR. Price T Rowe Associates Inc. MD boosted its position in Meritor by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,582,704 shares of the auto parts company’s stock worth $155,813,000 after purchasing an additional 116,730 shares in the last quarter. Franklin Resources Inc. boosted its position in Meritor by 2.8% during the first quarter. Franklin Resources Inc. now owns 1,660,381 shares of the auto parts company’s stock worth $48,848,000 after purchasing an additional 44,451 shares in the last quarter. Royce & Associates LP boosted its position in Meritor by 22.1% during the first quarter. Royce & Associates LP now owns 1,213,892 shares of the auto parts company’s stock worth $35,713,000 after purchasing an additional 219,630 shares in the last quarter. Norges Bank purchased a new position in Meritor during the fourth quarter worth approximately $23,151,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Meritor by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 694,514 shares of the auto parts company’s stock worth $19,384,000 after purchasing an additional 23,289 shares in the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.

About Meritor

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 and Industrial.

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Analyst Recommendations for Meritor (NYSE:MTOR)

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