Citigroup Downgrades Meggitt (LON:MGGT) to Neutral

Citigroup downgraded shares of Meggitt (LON:MGGT) to a neutral rating in a research report report published on Monday, Stock Target Advisor reports.

Other analysts have also recently issued research reports about the company. Credit Suisse Group reaffirmed an underperform rating and issued a GBX 550 ($7.23) target price on shares of Meggitt in a research report on Tuesday, January 28th. Goldman Sachs Group raised their target price on Meggitt from GBX 736 ($9.68) to GBX 799 ($10.51) and gave the stock a buy rating in a research report on Friday, January 17th. UBS Group reaffirmed a sell rating and issued a GBX 530 ($6.97) target price (up previously from GBX 494 ($6.50)) on shares of Meggitt in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Meggitt from GBX 730 ($9.60) to GBX 660 ($8.68) and set a neutral rating for the company in a research report on Wednesday, February 5th. Finally, Panmure Gordon assumed coverage on Meggitt in a research report on Wednesday, December 18th. They issued a sell rating and a GBX 506 ($6.66) target price for the company. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Meggitt currently has a consensus rating of Hold and a consensus price target of GBX 597.27 ($7.86).

Shares of Meggitt stock opened at GBX 611.80 ($8.05) on Monday. The stock has a market cap of $4.76 billion and a PE ratio of 33.07. The business has a fifty day simple moving average of GBX 671.78 and a 200-day simple moving average of GBX 638.17. The company has a quick ratio of 0.83, a current ratio of 1.57 and a debt-to-equity ratio of 50.95. Meggitt has a 12 month low of GBX 484.30 ($6.37) and a 12 month high of GBX 701.80 ($9.23).

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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