Meritor (NYSE:MTOR) Shares Up 9.7%

Meritor Inc (NYSE:MTOR)’s stock price traded up 9.7% during mid-day trading on Wednesday . The company traded as high as $14.16 and last traded at $15.33, 31,053 shares changed hands during trading. A decline of 98% from the average session volume of 1,541,788 shares. The stock had previously closed at $13.97.

A number of research analysts have recently issued reports on the company. ValuEngine raised Meritor from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. KeyCorp reduced their price objective on Meritor from $28.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Barclays reaffirmed a “hold” rating and set a $24.00 price objective on shares of Meritor in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Meritor has a consensus rating of “Buy” and an average target price of $24.43.

The stock has a 50 day moving average price of $20.48 and a 200-day moving average price of $22.02. The stock has a market capitalization of $1.03 billion, a P/E ratio of 5.47 and a beta of 2.00. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.20 and a quick ratio of 0.63.

Meritor (NYSE:MTOR) last announced its quarterly earnings data on Thursday, January 30th. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.07. The firm had revenue of $901.00 million for the quarter, compared to analysts’ expectations of $919.38 million. Meritor had a return on equity of 71.38% and a net margin of 5.65%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. Research analysts predict that Meritor Inc will post 2.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of MTOR. Emerald Advisers LLC bought a new stake in shares of Meritor in the fourth quarter worth about $52,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Meritor in the fourth quarter worth about $74,000. Islay Capital Management LLC bought a new stake in shares of Meritor in the fourth quarter worth about $85,000. Great West Life Assurance Co. Can bought a new stake in shares of Meritor in the fourth quarter worth about $127,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Meritor in the fourth quarter worth about $149,000. 95.56% of the stock is currently owned by institutional investors.

Meritor Company Profile (NYSE:MTOR)

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, Industrial and Trailer.

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