J P Morgan Chase & Co Reiterates “Overweight” Rating for Meggitt plc (LON:MGGT)

Meggitt plc (LON:MGGT)‘s stock had its “overweight” rating reissued by J P Morgan Chase & Co in a report issued on Monday, July 24th. They currently have a GBX 575 ($7.46) price objective on the stock. J P Morgan Chase & Co’s price objective points to a potential upside of 15.72% from the company’s previous close.

MGGT has been the subject of a number of other reports. Citigroup Inc. reiterated a “neutral” rating and issued a GBX 500 ($6.49) price target on shares of Meggitt plc in a research note on Friday, May 12th. Bank of America Corporation upgraded shares of Meggitt plc to a “buy” rating and set a GBX 530 ($6.88) price target for the company in a research note on Wednesday, April 12th. Liberum Capital reiterated a “sell” rating and issued a GBX 375 ($4.87) price target on shares of Meggitt plc in a research note on Friday, April 7th. Barclays PLC reiterated an “overweight” rating and issued a GBX 540 ($7.01) price target on shares of Meggitt plc in a research note on Wednesday, April 12th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a GBX 457 ($5.93) price target on shares of Meggitt plc in a research note on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of GBX 454.43 ($5.90).

Meggitt plc (LON MGGT) traded down 1.11% on Monday, reaching GBX 496.90. 822,994 shares of the company’s stock were exchanged. Meggitt plc has a 52-week low of GBX 407.40 and a 52-week high of GBX 517.50. The company’s market cap is GBX 3.85 billion. The firm’s 50 day moving average price is GBX 494.47 and its 200 day moving average price is GBX 470.23.

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In other Meggitt plc news, insider Doug Webb sold 16,869 shares of Meggitt plc stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of GBX 482 ($6.26), for a total transaction of £81,308.58 ($105,554.43). Insiders have acquired 75 shares of company stock worth $37,075 in the last ninety days.

About Meggitt plc

Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).

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