Barclays PLC Reiterates “Overweight” Rating for Meggitt plc (MGGT)
Meggitt plc (LON:MGGT)‘s stock had its “overweight” rating restated by investment analysts at Barclays PLC in a report released on Monday. They currently have a GBX 540 ($7.03) price target on the stock. Barclays PLC’s price target would indicate a potential upside of 7.25% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Bank of America Corporation raised Meggitt plc to a “buy” rating and set a GBX 530 ($6.90) price target on the stock in a research report on Wednesday, April 12th. Deutsche Bank AG reissued a “hold” rating and set a GBX 456 ($5.94) price target on shares of Meggitt plc in a research report on Friday, July 7th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a GBX 457 ($5.95) price target on shares of Meggitt plc in a research report on Thursday, June 22nd. J P Morgan Chase & Co reissued a “neutral” rating and set a GBX 500 ($6.51) price target on shares of Meggitt plc in a research report on Friday, April 21st. Finally, Citigroup Inc. reissued a “neutral” rating and set a GBX 500 ($6.51) price target on shares of Meggitt plc in a research report on Friday, May 12th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Meggitt plc presently has an average rating of “Hold” and an average target price of GBX 454.43 ($5.92).
Meggitt plc (LON:MGGT) opened at 497.40 on Monday. The company’s market cap is GBX 3.85 billion. Meggitt plc has a 52-week low of GBX 407.40 and a 52-week high of GBX 517.50. The company’s 50 day moving average price is GBX 494.64 and its 200 day moving average price is GBX 467.05.
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In other news, insider Doug Webb sold 16,869 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of GBX 482 ($6.28), for a total value of £81,308.58 ($105,884.33).
Meggitt plc Company Profile
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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