Shares of Meritor, Inc. (NYSE:MTOR) have been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $29.14.
A number of brokerages recently commented on MTOR. Citigroup raised Meritor from a “neutral” rating to a “buy” rating in a research note on Thursday, July 1st. Zacks Investment Research raised Meritor from a “strong sell” rating to a “hold” rating and set a $24.00 price target for the company in a research note on Tuesday, July 6th. Royal Bank of Canada raised Meritor from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, May 5th. Barclays decreased their price objective on Meritor from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, July 7th. Finally, TheStreet downgraded Meritor from a “b” rating to a “c” rating in a report on Tuesday, May 4th.
Shares of NYSE:MTOR traded down $0.87 during trading on Thursday, reaching $22.96. 8,076 shares of the company traded hands, compared to its average volume of 509,127. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 28.49 and a beta of 2.08. Meritor has a 52-week low of $19.51 and a 52-week high of $33.56. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 1.93. The firm’s fifty day simple moving average is $24.43.
Several institutional investors have recently added to or reduced their stakes in MTOR. Quantbot Technologies LP purchased a new stake in shares of Meritor during the first quarter valued at $28,000. C M Bidwell & Associates Ltd. purchased a new position in Meritor in the first quarter worth about $38,000. Public Employees Retirement System of Ohio boosted its position in Meritor by 8.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,116 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 324 shares during the last quarter. Captrust Financial Advisors boosted its position in Meritor by 2,576.5% in the first quarter. Captrust Financial Advisors now owns 4,336 shares of the auto parts company’s stock worth $128,000 after purchasing an additional 4,174 shares during the last quarter. Finally, The PNC Financial Services Group Inc. boosted its position in Meritor by 17.9% in the first quarter. The PNC Financial Services Group Inc. now owns 4,633 shares of the auto parts company’s stock worth $137,000 after purchasing an additional 704 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors.
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 and Industrial.
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