Meritor (NYSE:MTOR) Rating Increased to Buy at StockNews.com

Meritor (NYSE:MTORGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Meritor Price Performance

MTOR remained flat at $36.50 on Thursday. The firm has a fifty day simple moving average of $36.24 and a 200-day simple moving average of $33.89. Meritor has a 1 year low of $20.50 and a 1 year high of $36.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.79 and a current ratio of 1.40. The company has a market cap of $2.59 billion, a P/E ratio of 10.40, a PEG ratio of 0.59 and a beta of 1.47.

Meritor (NYSE:MTORGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.07 billion. Meritor had a return on equity of 39.69% and a net margin of 5.84%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, sell-side analysts anticipate that Meritor will post 3.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Meritor

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Meritor in the 4th quarter valued at about $1,738,000. Yousif Capital Management LLC purchased a new position in shares of Meritor in the 4th quarter valued at about $1,605,000. Qube Research & Technologies Ltd increased its stake in shares of Meritor by 25.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 34,308 shares of the auto parts company’s stock valued at $850,000 after purchasing an additional 6,866 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Meritor in the 4th quarter valued at about $5,015,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Meritor by 38.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,075 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 1,418 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Meritor Company Profile

(Get Rating)

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components in North America, South America, Europe, and the Asia Pacific. It operates through two segments, Commercial Truck, and Aftermarket and Industrial. The company offers axles, including front steer and rear drive axles for medium- and heavy-duty commercial vehicles; heavy-duty trailer axles; suspension modules and brake products comprising drum and disc brakes; universal joints and driveline components; trailer air suspension systems and products; transfer cases and drivelines; and advanced suspension modules for use in light-, medium- and heavy-duty military tactical wheeled vehicles.

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