Meggitt (LON:MGGT) Given New GBX 730 Price Target at JPMorgan Chase & Co.

Meggitt (LON:MGGT) had its target price upped by JPMorgan Chase & Co. from GBX 685 ($9.01) to GBX 730 ($9.60) in a report released on Thursday morning, Stock Target Advisor reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Barclays reiterated an underweight rating and set a GBX 460 ($6.05) price objective on shares of Meggitt in a research note on Monday, December 16th. UBS Group reiterated a sell rating and set a GBX 530 ($6.97) price objective (up from GBX 494 ($6.50)) on shares of Meggitt in a research note on Tuesday, December 10th. Investec downgraded shares of Meggitt to a hold rating in a research note on Monday, October 14th. Panmure Gordon assumed coverage on shares of Meggitt in a research note on Wednesday, December 18th. They set a sell rating and a GBX 506 ($6.66) price objective on the stock. Finally, Credit Suisse Group increased their price objective on shares of Meggitt from GBX 485 ($6.38) to GBX 550 ($7.23) and gave the company an underperform rating in a research note on Thursday, January 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of GBX 606.36 ($7.98).

Shares of LON MGGT traded up GBX 3.80 ($0.05) during midday trading on Thursday, reaching GBX 697.40 ($9.17). 1,967,277 shares of the company’s stock traded hands, compared to its average volume of 3,380,000. The company has a quick ratio of 0.83, a current ratio of 1.57 and a debt-to-equity ratio of 50.95. The stock’s 50 day simple moving average is GBX 658.43 and its 200-day simple moving average is GBX 617.25. Meggitt has a one year low of GBX 484.30 ($6.37) and a one year high of GBX 701.80 ($9.23). The company has a market cap of $5.42 billion and a price-to-earnings ratio of 37.70.

Meggitt Company Profile

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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Analyst Recommendations for Meggitt (LON:MGGT)

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