Barclays Lowers Meritor (MTOR) Price Target to $26.00

Meritor (NYSE:MTOR) had its price target cut by investment analysts at Barclays from $27.00 to $26.00 in a report issued on Tuesday. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Barclays’ price objective points to a potential upside of 24.58% from the company’s previous close.

MTOR has been the subject of several other reports. ValuEngine lowered Meritor from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered Meritor from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 6th. Piper Jaffray set a $35.00 price target on Meritor and gave the stock a “buy” rating in a research report on Tuesday, March 13th. Buckingham Research raised their price target on Meritor from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Longbow Research upgraded Meritor from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.86.

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Meritor stock traded down $0.16 during mid-day trading on Tuesday, hitting $20.87. The company’s stock had a trading volume of 408,216 shares, compared to its average volume of 1,294,878. The firm has a market capitalization of $1,816.69, a price-to-earnings ratio of 11.13 and a beta of 2.57. Meritor has a 1 year low of $14.97 and a 1 year high of $29.54. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.69 and a current ratio of 1.17.

Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.16. The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $836.28 million. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. analysts forecast that Meritor will post 2.71 EPS for the current year.

In related news, SVP Joseph A. Plomin sold 15,826 shares of Meritor stock in a transaction on Monday, February 26th. The stock was sold at an average price of $25.64, for a total value of $405,778.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey A. Craig sold 50,000 shares of Meritor stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $29.12, for a total value of $1,456,000.00. Following the completion of the transaction, the chief executive officer now owns 427,310 shares of the company’s stock, valued at $12,443,267.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 238,826 shares of company stock valued at $6,439,309. 2.32% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in MTOR. Hennessy Advisors Inc. boosted its holdings in Meritor by 480.4% in the fourth quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock valued at $33,210,000 after purchasing an additional 1,171,700 shares during the period. OppenheimerFunds Inc. acquired a new stake in Meritor in the fourth quarter valued at $14,667,000. Boston Advisors LLC acquired a new stake in Meritor in the fourth quarter valued at $11,567,000. Systematic Financial Management LP acquired a new stake in Meritor in the fourth quarter valued at $9,386,000. Finally, Millennium Management LLC raised its stake in Meritor by 34.3% in the fourth quarter. Millennium Management LLC now owns 1,532,694 shares of the auto parts company’s stock valued at $35,957,000 after buying an additional 391,220 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

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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 & Industrial; and Aftermarket & Trailer.

Analyst Recommendations for Meritor (NYSE:MTOR)

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