Zacks Investment Research upgraded shares of Meritor, Inc. (NYSE:MTOR) from a hold rating to a buy rating in a report issued on Tuesday, July 25th. They currently have $20.00 price target on the auto parts company’s stock.
According to Zacks, “Quarterly earnings estimates for Meritor have been going up of late. The company has gained new businesses and customers, which is poised to benefit its financials. It is also planning to launch 20 new products over the next 3 years and aims to achieve a revenue growth of 20% above the market, cumulatively and an increase of $1.25 per share in earnings. Moreover, Meritor’s continuous share repurchase programs are set to lower its interest expenses and improve its debt ratios, leading to a boost in shareholders’ return.”
A number of other equities analysts have also commented on MTOR. Royal Bank Of Canada initiated coverage on shares of Meritor in a research report on Monday, May 15th. They issued an outperform rating and a $22.00 price target on the stock. ValuEngine upgraded shares of Meritor from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Meritor from a sell rating to a hold rating in a research report on Friday, June 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $19.57.
Shares of Meritor (NYSE:MTOR) opened at 18.91 on Tuesday. Meritor has a 12-month low of $9.84 and a 12-month high of $19.61. The stock’s 50 day moving average price is $17.70 and its 200-day moving average price is $16.69. The company has a market cap of $1.67 billion, a PE ratio of 3.07 and a beta of 2.22.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.20. The firm had revenue of $920 million for the quarter, compared to analyst estimates of $846.19 million. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. On average, equities research analysts forecast that Meritor will post $1.69 earnings per share for the current year.
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In other news, SVP Robert H. Speed sold 4,192 shares of the company’s 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 transaction, the senior vice president now directly owns 30,000 shares in the company, valued at $576,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.87% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Meritor by 7.2% in the first quarter. Vanguard Group Inc. now owns 11,154,890 shares of the auto parts company’s stock worth $191,083,000 after buying an additional 749,068 shares during the last quarter. First Trust Advisors LP raised its position in shares of Meritor by 240.0% in the first quarter. First Trust Advisors LP now owns 165,693 shares of the auto parts company’s stock valued at $2,838,000 after buying an additional 116,958 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Meritor by 6.0% in the first quarter. Geode Capital Management LLC now owns 678,036 shares of the auto parts company’s stock valued at $11,614,000 after buying an additional 38,551 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Meritor by 530.2% in the first quarter. Teachers Advisors LLC now owns 900,676 shares of the auto parts company’s stock valued at $15,429,000 after buying an additional 757,767 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after buying an additional 289 shares in the last quarter. Institutional investors own 93.05% of the company’s stock.
About Meritor
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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