Meritor (MTOR) Trading Down 6.9%

Meritor Inc (NYSE:MTOR) shares traded down 6.9% during mid-day trading on Thursday . The company traded as low as $25.80 and last traded at $25.82. 1,776,221 shares were traded during mid-day trading, an increase of 27% from the average session volume of 1,396,708 shares. The stock had previously closed at $27.73.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Barclays raised their target price on shares of Meritor from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Buckingham Research raised their target price on shares of Meritor from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Stifel Nicolaus raised their target price on shares of Meritor from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $35.00 target price on shares of Meritor in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.05.

The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 2.86. The stock has a market cap of $2,300.00, a PE ratio of 8.38 and a beta of 2.45.

Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.16. The company had revenue of $903.00 million for the quarter, compared to analyst estimates of $836.28 million. Meritor had a net margin of 7.69% and a return on equity of 208.74%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. research analysts expect that Meritor Inc will post 2.7 earnings per share for the current fiscal year.

In other 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 document filed with the SEC, which is available through the SEC website. Also, SVP Timothy J. Heffron sold 18,696 shares of Meritor stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $23.46, for a total transaction of $438,608.16. Following the sale, the senior vice president now owns 31,741 shares in the company, valued at $744,643.86. The disclosure for this sale can be found here. Insiders sold a total of 214,290 shares of company stock worth $5,520,211 over the last 90 days. Company insiders own 2.32% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its position 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 valued at $176,000 after acquiring an additional 281 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Meritor by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock valued at $1,065,000 after acquiring an additional 439 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Meritor by 3.5% during the 2nd quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock valued at $259,000 after acquiring an additional 528 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position 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 valued at $122,000 after acquiring an additional 596 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in shares of Meritor by 15.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 16,861 shares of the auto parts company’s stock valued at $280,000 after acquiring an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 98.37% of the company’s stock.

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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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