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

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.

Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, January 31st. The auto parts company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.16. Meritor had a net margin of 7.69% and a return on equity of 483.33%. The firm had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $836.28 million. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. research analysts predict that Meritor will post 2.68 earnings per share for the current year.

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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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Meritor (NYSE:MTOR)

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