Mayville Engineering (NYSE:MEC) Stock Rating Upgraded by Zacks Investment Research

Mayville Engineering (NYSE:MEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Mayville Engineering Company Inc. provides prototyping and tooling, production fabrication, coating, assembly and aftermarket services. It serves heavy and medium duty commercial vehicle, construction, powersports, agriculture, military and other end markets. The company also provides engineering and development services. It offers conventional and CNC stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. Mayville Engineering Company Inc. is based in Wisconsin, United States. “

Shares of NYSE MEC traded down $0.26 during mid-day trading on Friday, hitting $9.62. 39,739 shares of the company were exchanged, compared to its average volume of 82,180. Mayville Engineering has a 1-year low of $7.70 and a 1-year high of $17.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.87 and a quick ratio of 1.07. The business’s 50 day moving average is $11.98.

Mayville Engineering (NYSE:MEC) last released its earnings results on Tuesday, October 29th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.17. Mayville Engineering had a positive return on equity of 13.70% and a negative net margin of 0.51%. The company had revenue of $128.51 million during the quarter, compared to the consensus estimate of $140.10 million. Analysts anticipate that Mayville Engineering will post 1.05 earnings per share for the current fiscal year.

In other Mayville Engineering news, Director Jay O. Rothman bought 10,000 shares of Mayville Engineering stock in a transaction on Monday, November 4th. The stock was bought at an average price of $9.79 per share, with a total value of $97,900.00. Also, Director Steven L. Fisher bought 7,500 shares of Mayville Engineering stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $12.02 per share, with a total value of $90,150.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 62,500 shares of company stock valued at $643,975.

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Mayville Engineering in the second quarter valued at $25,000. Russell Investments Group Ltd. acquired a new position in shares of Mayville Engineering during the 2nd quarter worth $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Mayville Engineering during the 2nd quarter worth $39,000. FNY Investment Advisers LLC acquired a new position in shares of Mayville Engineering during the 2nd quarter worth $59,000. Finally, Bailard Inc. acquired a new position in shares of Mayville Engineering during the 3rd quarter worth $148,000. 28.02% of the stock is owned by institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction, powersports, agriculture, military, and other end markets in the United States. The company provides a range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components.

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Analyst Recommendations for Mayville Engineering (NYSE:MEC)

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