Meritor (MTOR) Trading Up 6.3%


Shares of Meritor Inc (NYSE:MTOR) were up 6.3% during mid-day trading on Friday . The company traded as high as $21.88 and last traded at $21.85. Approximately 2,928,333 shares traded hands during mid-day trading, an increase of 164% from the average daily volume of 1,109,782 shares. The stock had previously closed at $20.55.

A number of analysts have issued reports on MTOR shares. ValuEngine lowered Meritor from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus set a $27.00 price target on Meritor and gave the stock a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research lowered Meritor from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 6th. Piper Jaffray Companies set a $35.00 price target on Meritor and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Finally, Barclays decreased their price target on Meritor from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $28.41.


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The company has a market cap of $1.79 billion, a price-to-earnings ratio of 10.87 and a beta of 2.51. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.16 and a quick ratio of 0.72.

Meritor (NYSE:MTOR) last released its quarterly earnings data on Thursday, May 3rd. The auto parts company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $974.09 million. Meritor had a return on equity of 115.74% and a net margin of 8.08%. The company’s revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. research analysts predict that Meritor Inc will post 2.81 EPS for the current year.


Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTOR. Teacher Retirement System of Texas acquired a new position in shares of Meritor in the 4th quarter valued at about $675,000. California Public Employees Retirement System lifted its stake in shares of Meritor by 11.0% in the 4th quarter. California Public Employees Retirement System now owns 197,293 shares of the auto parts company’s stock valued at $4,628,000 after purchasing an additional 19,631 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Meritor by 12.5% in the 4th quarter. First Trust Advisors LP now owns 109,897 shares of the auto parts company’s stock valued at $2,578,000 after purchasing an additional 12,175 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Meritor during the 4th quarter valued at about $136,000. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Meritor by 6.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 70,233 shares of the auto parts company’s stock valued at $1,648,000 after buying an additional 4,125 shares during the period. 92.78% of the stock is currently owned by institutional investors and hedge funds.


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.

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