Goldman Sachs Group Inc. Reaffirms Neutral Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “neutral” rating reissued by Goldman Sachs Group Inc. in a research report issued on Thursday. They presently have a GBX 463 ($5.74) price objective on the stock. Goldman Sachs Group Inc.’s price target points to a potential downside of 1.99% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity lifted their target price on shares of Meggitt plc from GBX 368 ($4.57) to GBX 370 ($4.59) and gave the company a “sell” rating in a research report on Tuesday, August 9th. Panmure Gordon reiterated a “sell” rating on shares of Meggitt plc in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. raised shares of Meggitt plc to a “neutral” rating and lifted their price target for the stock from GBX 395 ($4.90) to GBX 445 ($5.52) in a research note on Tuesday, August 9th. Berenberg Bank downgraded shares of Meggitt plc to a “hold” rating and decreased their price target for the stock from GBX 450 ($5.58) to GBX 440 ($5.46) in a research note on Monday, August 8th. Finally, Morgan Stanley lifted their price target on shares of Meggitt plc from GBX 435 ($5.40) to GBX 450 ($5.58) and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 435.47 ($5.40).
Meggitt plc (LON:MGGT) opened at 472.40 on Thursday. Meggitt plc has a 52 week low of GBX 342.40 and a 52 week high of GBX 485.10. The company’s market capitalization is GBX 3.66 billion. The company’s 50-day moving average is GBX 447.36 and its 200 day moving average is GBX 431.48.
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In other Meggitt plc news, insider Nigel Rudd bought 1,050 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were purchased at an average price of GBX 454 ($5.63) per share, for a total transaction of £4,767 ($5,913.66).
Meggitt plc Company Profile
Meggitt PLC is an engineering company. The Company’s segments are Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems and the Meggitt Equipment Group. Its Meggitt Aircraft Braking Systems is a supplier of aircraft wheels, brakes and brake control systems.
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