Meritor, Inc. (NYSE: MTOR) Receives Average Hold Referral From Brokers
Shares of Meritor, Inc. (NYSE: MTOR) have received an average “Hold” recommendation from the six brokerage houses that cover the company, MarketBeat reports. One research analyst rated the stock with a sell recommendation, another assigned a hold recommendation, and three issued a buy recommendation on the company. The year-over-year average target price among analysts who hedged the stock in the past year is $ 27.40.
MTOR has been the subject of several analyst reports. Zacks investment research downgraded Meritor’s stock from a “hold” rating to a “strong sell” rating and set a price target of $ 23.00 for the company. in a research note on Monday May 10. TheStreet reduced Meritor from a “b” grade to a “c” grade in a research note on Tuesday, May 4th. Finally, the Royal Bank of Canada upgraded Meritor from a “sector performance” rating to an “outperformance” rating and set a price target of $ 31.00 on the stock in a research note on Tuesday 11. may.
Several hedge funds and other institutional investors have recently changed their holdings in MTOR. Quantbot Technologies LP acquired a new position in Meritor during the first quarter valued at approximately $ 28,000. Annapolis Financial Services LLC purchased a new stake in Meritor during the fourth quarter valued at approximately $ 28,000. CM Bidwell & Associates Ltd. acquired a new equity interest in Meritor during the first quarter valued at approximately $ 38,000. Veriti Management LLC acquired a new position in shares of Meritor in the fourth quarter valued at approximately $ 73,000. Finally, the Ohio State Employee Retirement System increased its holdings of Meritor shares by 8.5% in the fourth quarter. The Ohio Public Employee Retirement System now owns 4,116 shares of the auto parts company worth $ 115,000 after buying 324 more shares in the last quarter. 93.23% of the shares are held by institutional investors and hedge funds.
NYSE: MTOR opened at $ 24.82 on Wednesday. Meritor has a one-year low of $ 18.16 and a one-year high of $ 33.56. The stock has a market cap of $ 1.80 billion, a PE ratio of 30.64 and a beta of 2.11. The company has a debt to equity ratio of 1.93, a quick ratio of 1.12, and a current ratio of 1.70. The stock has a 50-day moving average price of $ 27.35 and a 200-day moving average price of $ 28.42.
Meritor (NYSE: MTOR) last released its results on Tuesday, May 4. The auto parts company reported earnings per share (EPS) of $ 0.68 for the quarter, beating the Thomson Reuters consensus estimate of $ 0.65 by $ 0.03. Meritor achieved a return on equity of 13.68% and a net margin of 1.91%. The company reported sales of $ 983.00 million in the quarter, compared to analysts’ expectations of $ 944.57 million. During the same period of the previous year, the company made EPS of $ 0.74. The company’s quarterly revenues increased 12.9% year over year. As a group, analysts expect Meritor to post 2.29 earnings per share for the current fiscal year.
Meritor Company Profile
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services and supports integrated systems, modules and components to original equipment manufacturers (OEMs) and aftermarket for the commercial vehicle industries , transport and industry. It operates through two segments, Commercial Truck; and after-sales and industrial.
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See the “7 Semiconductor Stocks Set to Gain From Chip Shortage”.