Mayville Engineering Company, Inc. (NYSE:MEC) Given Average Recommendation of “Hold” by Brokerages

Mayville Engineering Company, Inc. (NYSE:MEC) has been given an average rating of “Hold” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of brokerages recently commented on MEC. Zacks Investment Research lowered Mayville Engineering from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine lowered Mayville Engineering from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd.

NYSE MEC traded down $0.06 during trading hours on Friday, reaching $9.11. The stock had a trading volume of 42,648 shares, compared to its average volume of 38,620. The stock has a fifty day moving average of $9.23 and a 200 day moving average of $11.67. Mayville Engineering has a 52-week low of $7.70 and a 52-week 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.

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

In related news, CEO Robert D. Kamphuis purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $10.12 per share, with a total value of $202,400.00. Also, Director Jay O. Rothman purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $9.79 per share, with a total value of $97,900.00. Insiders acquired 60,000 shares of company stock valued at $558,225 over the last three months.

Large investors have recently made changes to their positions in the business. State Street Corp raised its stake in shares of Mayville Engineering by 9.2% during the 3rd quarter. State Street Corp now owns 69,712 shares of the company’s stock worth $920,000 after buying an additional 5,891 shares during the period. Squarepoint Ops LLC raised its stake in shares of Mayville Engineering by 5.6% during the 3rd quarter. Squarepoint Ops LLC now owns 28,821 shares of the company’s stock worth $380,000 after buying an additional 1,526 shares during the period. Northern Trust Corp acquired a new position in shares of Mayville Engineering during the 2nd quarter worth approximately $352,000. Vanguard Group Inc. acquired a new position in shares of Mayville Engineering during the 2nd quarter worth approximately $2,570,000. Finally, Pentwater Capital Management LP acquired a new position in shares of Mayville Engineering during the 2nd quarter worth approximately $1,242,000. 29.69% 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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