Meritor (MTOR) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Meritor (NYSE:MTOR) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and set a $26.00 target price (up previously from $25.00) on shares of Meritor in a research report on Tuesday, September 12th. Barclays reiterated an equal weight rating and set a $21.00 target price (up previously from $17.00) on shares of Meritor in a research report on Tuesday, September 12th. Longbow Research reiterated a buy rating and set a $28.00 target price (up previously from $22.00) on shares of Meritor in a research report on Tuesday, September 19th. KeyCorp reiterated a buy rating and set a $37.00 target price (up previously from $23.00) on shares of Meritor in a research report on Tuesday, September 19th. Finally, BidaskClub upgraded shares of Meritor from a hold rating to a buy rating in a research report on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $26.14.

Shares of Meritor (NYSE MTOR) traded down $0.31 on Friday, hitting $23.46. The stock had a trading volume of 769,900 shares, compared to its average volume of 1,208,770. The firm has a market cap of $2,092.23, a P/E ratio of 6.61 and a beta of 2.29. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 2.55. Meritor has a fifty-two week low of $12.38 and a fifty-two week high of $27.96.

Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.15. Meritor had a negative return on equity of 1,152.54% and a net margin of 9.68%. The firm had revenue of $922.00 million for the quarter, compared to the consensus estimate of $836.39 million. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. sell-side analysts anticipate that Meritor will post 2.43 EPS for the current fiscal year.

In related news, CEO Jeffrey A. Craig sold 67,005 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.63, for a total value of $1,650,333.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chris Villavarayan sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $23.53, for a total transaction of $94,120.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,290 shares of company stock valued at $3,549,231. 2.32% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MTOR. Ameritas Investment Partners Inc. boosted its stake in shares of Meritor by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after buying an additional 596 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Meritor by 21.2% during the 2nd quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after buying an additional 1,491 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Meritor by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after buying an additional 281 shares during the last quarter. Blue Rock Advisors LLC acquired a new position in shares of Meritor during the 2nd quarter worth about $204,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Meritor by 123.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,352 shares of the auto parts company’s stock worth $218,000 after buying an additional 4,611 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Meritor (NYSE:MTOR)

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