Meritor Inc (NYSE:MTOR) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,509,000 shares, an increase of 11.1% from the July 31st total of 9,462,000 shares. Based on an average daily trading volume, of 787,000 shares, the short-interest ratio is presently 13.4 days. Approximately 13.5% of the shares of the company are short sold.
A number of research firms have commented on MTOR. UBS Group reduced their target price on Meritor from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup reduced their target price on Meritor from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Zacks Investment Research raised Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Thursday, August 1st. Buckingham Research reduced their target price on Meritor from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, ValuEngine downgraded Meritor from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $24.18.
Shares of NYSE MTOR traded up $0.68 during mid-day trading on Friday, hitting $20.21. The company had a trading volume of 692,866 shares, compared to its average volume of 742,257. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 6.67 and a beta of 2.32. Meritor has a 12 month low of $15.01 and a 12 month high of $25.78. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $19.18 and its two-hundred day simple moving average is $21.54.
In other Meritor news, SVP Boise April Miller sold 31,830 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $17.38, for a total transaction of $553,205.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in shares of Meritor by 124.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 794 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Meritor in the 2nd quarter valued at approximately $77,000. New York State Teachers Retirement System acquired a new stake in Meritor in the 1st quarter valued at approximately $98,000. Anderson Fisher LLC acquired a new stake in Meritor in the 1st quarter valued at approximately $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Meritor by 16.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock valued at $115,000 after acquiring an additional 686 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also: Producer Price Index (PPI)
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