Meritor (NYSE:MTOR) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Friday.
Several other equities research analysts have also recently commented on the stock. Barclays raised their target price on shares of Meritor from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday. Buckingham Research raised their target price on shares of Meritor from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Meritor from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price target on shares of Meritor in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.05.
Shares of Meritor (NYSE MTOR) opened at $28.22 on Friday. Meritor has a 12-month low of $14.86 and a 12-month high of $29.54. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.10 and a quick ratio of 0.78. The company has a market cap of $2,516.80, a PE ratio of 9.50 and a beta of 2.45.
In related news, CFO Kevin Nowlan sold 17,977 shares of Meritor stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $442,953.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Chris Villavarayan sold 4,000 shares of Meritor stock in a transaction dated Wednesday, December 13th. The shares were 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. Over the last three months, insiders have sold 146,290 shares of company stock valued at $3,549,231. 2.32% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MTOR. Rothschild Asset Management Inc. purchased a new position in Meritor in the third quarter worth about $37,927,000. Hennessy Advisors Inc. raised its holdings in Meritor by 480.4% in the fourth quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock worth $33,210,000 after buying an additional 1,171,700 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Meritor by 340.9% in the third quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock worth $21,218,000 after buying an additional 630,702 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Meritor in the third quarter worth about $16,311,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Meritor in the third quarter worth about $13,493,000. 96.76% of the stock is owned by institutional investors and hedge funds.
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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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