Meritor, Inc. (NYSE:MTOR) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
A number of other brokerages have also recently issued reports on MTOR. Barclays PLC reaffirmed an “equal weight” rating and set a $21.00 price objective (up from $17.00) on shares of Meritor in a research note on Tuesday. Citigroup Inc. reaffirmed a “neutral” rating and set a $22.00 price objective (up from $19.00) on shares of Meritor in a research note on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective (up from $25.00) on shares of Meritor in a research note on Tuesday. J P Morgan Chase & Co raised their price objective on Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Buckingham Research began coverage on Meritor in a research note on Tuesday, September 5th. They set a “buy” rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $22.28.
Shares of Meritor (NYSE MTOR) opened at 21.45 on Wednesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 3.48 and a beta of 2.21. The company’s 50-day moving average price is $18.82 and its 200-day moving average price is $17.18. Meritor has a 12 month low of $9.84 and a 12 month high of $21.61.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm had revenue of $920.00 million for the quarter, compared to analysts’ expectations of $846.19 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts anticipate that Meritor will post $1.69 EPS for the current year.
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In other news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTOR. Teachers Advisors LLC raised its holdings in Meritor by 5.5% in the 4th quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after acquiring an additional 7,511 shares during the last quarter. Bank of Montreal Can raised its holdings in Meritor by 2.6% in the 1st quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock worth $196,000 after acquiring an additional 289 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Meritor by 68.7% in the 1st quarter. Russell Investments Group Ltd. now owns 204,788 shares of the auto parts company’s stock worth $3,504,000 after acquiring an additional 83,400 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Meritor in the 1st quarter worth approximately $365,000. Finally, First Trust Advisors LP raised its holdings in Meritor by 240.0% in the 1st quarter. First Trust Advisors LP now owns 165,693 shares of the auto parts company’s stock worth $2,838,000 after acquiring an additional 116,958 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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