Brokerages Set Mayville Engineering Company, Inc. (NYSE:MEC) Price Target at $35.75

Mayville Engineering Company, Inc. (NYSE:MEC) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $35.75.

Several research firms have recently weighed in on MEC. DA Davidson lifted their target price on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Northland Securities set a $40.00 price target on shares of Mayville Engineering in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Mayville Engineering in a research report on Friday, July 10th. Finally, Citigroup lifted their price objective on shares of Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 13th.

Mayville Engineering Stock Performance

NYSE MEC opened at $17.46 on Friday. The stock has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $24.88. The firm has a market capitalization of $445.33 million, a P/E ratio of -20.79 and a beta of 1.26. Mayville Engineering has a fifty-two week low of $12.25 and a fifty-two week high of $38.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.70.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $150.59 million. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%. On average, equities analysts forecast that Mayville Engineering will post -0.22 earnings per share for the current year.

Insider Activity at Mayville Engineering

In related news, SVP Sean Leuba sold 12,855 shares of Mayville Engineering stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $25.44, for a total value of $327,031.20. Following the completion of the transaction, the senior vice president owned 6,633 shares in the company, valued at $168,743.52. The trade was a 65.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Trading of Mayville Engineering

Several institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of Mayville Engineering during the 2nd quarter worth approximately $53,000. Parkside Financial Bank & Trust grew its stake in Mayville Engineering by 4,657.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,665 shares of the company’s stock valued at $62,000 after acquiring an additional 1,630 shares during the period. Clearstead Advisors LLC grew its stake in Mayville Engineering by 194.9% in the 4th quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock valued at $39,000 after acquiring an additional 1,384 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Mayville Engineering in the 2nd quarter worth $80,000. Finally, Engineers Gate Manager LP purchased a new stake in Mayville Engineering in the 2nd quarter worth $213,000. 45.44% of the stock is owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE:MEC) is a contract manufacturer that provides engineered metal fabrication and assembly services to original equipment manufacturers. Based in Mayville, Wisconsin, the company supports customers from product design and prototyping through production and final assembly.

MEC’s capabilities include laser cutting, stamping, forming, machining, robotic and manual welding, powder coating, wet painting, and complex assembly. Its products and components include structural frames, chassis, fuel and hydraulic tanks, operator platforms, and other fabricated metal assemblies used in manufactured equipment.

The company serves a diverse range of end markets, including construction, agriculture, powersports, commercial vehicles, and other off-highway equipment industries.