Meggitt’s (MGGT) “Sell” Rating Reaffirmed at UBS Group

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UBS Group reiterated their sell rating on shares of Meggitt (LON:MGGT) in a report published on Tuesday morning, Stock Target Advisor reports. They currently have a GBX 530 ($6.97) target price on the stock, up from their previous target price of GBX 494 ($6.50).

A number of other brokerages also recently issued reports on MGGT. Credit Suisse Group raised their price objective on Meggitt from GBX 465 ($6.12) to GBX 525 ($6.91) and gave the stock an underperform rating in a research report on Wednesday, November 13th. Goldman Sachs Group raised their target price on shares of Meggitt from GBX 679 ($8.93) to GBX 736 ($9.68) and gave the stock a buy rating in a research report on Friday, November 15th. Investec cut shares of Meggitt to a hold rating in a report on Monday, October 14th. Finally, Berenberg Bank upped their price target on shares of Meggitt from GBX 610 ($8.02) to GBX 695 ($9.14) and gave the company a buy rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of GBX 592.60 ($7.80).

Shares of MGGT stock opened at GBX 647.20 ($8.51) on Tuesday. Meggitt has a 1-year low of GBX 456.10 ($6.00) and a 1-year high of GBX 667.20 ($8.78). The stock has a 50-day moving average of GBX 632.30 and a 200-day moving average of GBX 587.84. The stock has a market cap of $5.03 billion and a price-to-earnings ratio of 34.98. The company has a current ratio of 1.57, a quick ratio of 0.83 and a debt-to-equity ratio of 50.95.

About Meggitt

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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