Meritor Inc (NYSE:MTOR) PT Raised to $17.00 at Barclays PLC
Meritor Inc (NYSE:MTOR) had its target price increased by equities research analysts at Barclays PLC from $16.00 to $17.00 in a research report issued to clients and investors on Friday. The firm presently has an “equal weight” rating on the auto parts company’s stock. Barclays PLC’s price target suggests a potential downside of 5.66% from the company’s current price.
Several other brokerages also recently commented on MTOR. Stifel Nicolaus set a $25.00 price target on shares of Meritor and gave the company a “buy” rating in a report on Wednesday, August 2nd. UBS AG reissued a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Meritor in a report on Thursday. BidaskClub raised shares of Meritor from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada assumed coverage on shares of Meritor in a report on Monday, May 15th. They issued an “outperform” rating and a $22.00 price target for the company. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $18.38.
Meritor (MTOR) traded up 3.44% during midday trading on Friday, reaching $18.64. The company’s stock had a trading volume of 1,901,275 shares. Meritor has a 12 month low of $9.79 and a 12 month high of $18.64. The company has a market cap of $1.74 billion, a PE ratio of 3.02 and a beta of 2.22. The stock has a 50-day moving average price of $16.90 and a 200 day moving average price of $16.38.
Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. The business had revenue of $920 million during the quarter, compared to analysts’ expectations of $846.19 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Meritor will post $1.65 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Meritor during the fourth quarter worth about $3,973,000. Norges Bank bought a new stake in Meritor during the fourth quarter worth about $4,809,000. Teachers Advisors LLC increased its stake in Meritor by 5.5% in the fourth quarter. Teachers Advisors LLC now owns 142,909 shares of the auto parts company’s stock worth $1,775,000 after buying an additional 7,511 shares in the last quarter. Bank of Montreal Can increased its stake in Meritor by 2.6% in the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock worth $196,000 after buying an additional 289 shares in the last quarter. Finally, Sanders Morris Harris Inc. bought a new stake in Meritor during the first quarter worth about $3,722,000. 93.72% of the stock is owned by institutional investors.
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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