Short Interest in Meritor Inc (NYSE:MTOR) Rises By 5.8%

Meritor Inc (NYSE:MTOR) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 9,462,000 shares, an increase of 5.8% from the June 30th total of 8,942,200 shares. Currently, 13.0% of the company’s shares are sold short. Based on an average trading volume of 762,200 shares, the days-to-cover ratio is presently 12.4 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in Meritor by 124.3% in the second quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 794 shares during the period. Quantamental Technologies LLC boosted its holdings in Meritor by 84.1% in the first quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,201 shares during the period. Investors Research Corp purchased a new position in Meritor in the first quarter valued at $60,000. Advisors Preferred LLC purchased a new position in Meritor in the first quarter valued at $76,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Meritor in the second quarter valued at $77,000. 96.51% of the stock is owned by institutional investors and hedge funds.

MTOR has been the subject of several recent analyst reports. Stifel Nicolaus set a $29.00 target price on Meritor and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Longbow Research cut Meritor from a “buy” rating to a “neutral” rating and set a $23.42 target price for the company. in a research note on Monday, May 6th. ValuEngine cut Meritor from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research raised Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.63.

Shares of NYSE MTOR traded down $0.49 during trading on Thursday, reaching $17.40. The stock had a trading volume of 846,400 shares, compared to its average volume of 867,566. Meritor has a fifty-two week low of $15.01 and a fifty-two week high of $25.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.76 and a current ratio of 1.25. The business’s 50-day moving average price is $22.46 and its 200-day moving average price is $22.06. The company has a market cap of $1.57 billion, a P/E ratio of 5.74 and a beta of 2.22.

Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.25. Meritor had a return on equity of 83.77% and a net margin of 6.31%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Analysts forecast that Meritor will post 3.72 EPS for the current fiscal year.

Meritor Company Profile

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

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