Mayville Engineering Company, Inc. (NYSE:MEC) Receives $21.50 Average Price Target from Brokerages

Mayville Engineering Company, Inc. (NYSE:MEC) has been given an average recommendation of “Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.50.

Several analysts have commented on MEC shares. Craig Hallum set a $24.00 price objective on shares of Mayville Engineering and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. Northland Capmk upgraded Mayville Engineering from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Northland Securities upgraded Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Tuesday, August 12th.

Mayville Engineering Stock Down 0.3%

Shares of Mayville Engineering stock opened at $16.00 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. Mayville Engineering has a 12-month low of $11.72 and a 12-month high of $19.05. The company has a market cap of $325.02 million, a P/E ratio of 27.58 and a beta of 1.21. The company’s fifty day simple moving average is $14.90 and its two-hundred day simple moving average is $15.17.

Mayville Engineering (NYSE:MEC) last posted its earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. The firm had revenue of $144.31 million during the quarter, compared to analysts’ expectations of $141.36 million. Mayville Engineering has set its FY 2025 guidance at EPS. Research analysts anticipate that Mayville Engineering will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Mayville Engineering by 109.0% during the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after acquiring an additional 1,435 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Mayville Engineering by 222.8% during the first quarter. AlphaQuest LLC now owns 7,879 shares of the company’s stock valued at $106,000 after purchasing an additional 5,438 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Mayville Engineering by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after purchasing an additional 1,359 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Mayville Engineering in the 2nd quarter worth approximately $165,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Mayville Engineering in the 1st quarter worth approximately $180,000. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.