Meritor, Inc. (MTOR) Receives Consensus Rating of “Buy” from Brokerages

Meritor, Inc. (NYSE:MTOR) has been assigned an average rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.57.

A number of research analysts have issued reports on MTOR shares. BidaskClub raised Meritor from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Barclays PLC lifted their price objective on Meritor from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Royal Bank Of Canada started coverage on Meritor in a report on Monday, May 15th. They set an “outperform” rating and a $22.00 price objective for the company. ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus set a $25.00 price objective on Meritor and gave the company a “buy” rating in a report on Wednesday, August 2nd.

In related news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total value of $80,612.16. Following the completion of the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at $576,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.87% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in Meritor by 240.0% in the first quarter. First Trust Advisors LP now owns 165,693 shares of the auto parts company’s stock worth $2,838,000 after buying an additional 116,958 shares in the last quarter. Vanguard Group Inc. raised its stake 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. Bank of Montreal Can raised its stake 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 worth $196,000 after buying an additional 289 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Meritor during the first quarter worth approximately $238,000. Finally, Wellington Management Group LLP raised its stake in shares of Meritor by 14.1% in the first quarter. Wellington Management Group LLP now owns 330,617 shares of the auto parts company’s stock worth $5,664,000 after buying an additional 40,931 shares during the last quarter. 93.72% of the stock is owned by institutional investors and hedge funds.

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Meritor (MTOR) traded down 0.563% during mid-day trading on Friday, hitting $18.555. 634,495 shares of the company were exchanged. The stock’s 50 day moving average is $17.42 and its 200-day moving average is $16.57. Meritor has a 12-month low of $9.84 and a 12-month high of $19.61. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 3.010 and a beta of 2.22.

Meritor (NYSE:MTOR) last issued 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. The company had revenue of $920 million during the quarter, compared to analysts’ expectations of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Equities research analysts predict that Meritor will post $1.69 EPS for the current year.

Meritor Company Profile

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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