Company shares are trading at $26.15 which is slightly above $24.80, the stock’s 50 day moving average and which is impressively higher than the 200 day moving average of $19.13. The 50 day moving average went up by +5.44% and the 200 day average was up $7.02. 942K shares changed hands in the last trading session. Volume was up 8.16% over the stocks average daily volume.
Short traders are more bullish on Meritor, Inc. of late if you pay attention to the motion in short interest. The company had a fall in short interest between September 15, 2017 and September 29, 2017 of -20.56%. Short interest decreased 1,688,477 over that period. With short interest at 6,524,628 and short average daily volume at 3,183,919, days to cover is 2.0 and the short interest percentage is 0.07% as of September 29.
A few notable investment firms have updated their holdings. As of the end of the quarter Bank Of Montreal /can/ had sold 4,365 shares trimming its holdings by 46.6%. The value of the investment in (MTOR) went from $156,000 to $130,000 a change of 16.7% quarter over quarter. As of quarter end Denali Advisors LLC had acquired a total of 64 shares growing its position 39.3%. The value of the total investment in Meritor, Inc. increased from $3,000 to $6,000 increasing 100.0% quarter to quarter.
Bowling Portfolio Management LLC reduced its ownership by shedding 44,877 shares a decrease of 53.4% as of 09/30/2017. Bowling Portfolio Management LLC currently owns 39,176 shares worth $1,019,000. The value of the position overall is down by 27.0%. As of the end of the quarter Robeco Institutional Asset Management B.v. had bought 40,322 shares growing its stake by 241.9%. The value of the company’s investment in Meritor, Inc. increased from $277,000 to $1,483,000 a change of $1,206,000 since the last quarter.
On August 4 Barclays made no change to the company rating of “Equal-Weight” but raised the price target to $17.00 from $11.00. On September 5, 2017 Buckingham released its first research report on the stock by announcing an initial rating of “Buy”.
September 12 investment analysts at JP Morgan maintained a company rating of “Neutral” but moved up the price target from $13.50 to $21.50. On October 12, 2017 the stock rating was set at “Neutral” according to a Longbow Research report down from the previous “Buy” rating.
October 20 investment analysts at Barclays made no change to the stock rating of “Equal-Weight” and moved up the price target from $17.00 to $22.00.
The P/E ratio is 4.24 and market capitalization is 2.32B. As of the last earnings report the EPS was $6.16 and is estimated to be $1.71 for the current year with 88,565,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.44 with next year’s EPS anticipated to be $2.27.
Meritor, Inc., launched on March 31, 2000, is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Business’s segments include Commercial Truck & Industrial and Aftermarket & Trailer. The Commercial Truck & Industrial segment supplies drivetrain systems and components, including axles, drivelines and braking and suspension systems, for medium- and heavy-duty trucks, off-highway, military, construction, bus and coach, fire and emergency and other applications in North America, South America, Europe and Asia Pacific. The Commercial Truck & Industrial segment also includes the Business’s aftermarket businesses in Asia Pacific and South America. The Aftermarket & Trailer segment supplies axles, brakes, drivelines, suspension parts and other replacement and remanufactured parts to commercial vehicle aftermarket customers in North America and Europe. The Aftermarket & Trailer segment also supplies various undercarriage products and systems for trailer applications in North America. The Company serves commercial truck, trailer, military, bus and coach, construction, and other industrial OEMs and certain aftermarkets. Its principal products are axles, undercarriages, drivelines, brakes and braking systems. It caters to a range of customers across the world, including medium- and heavy-duty truck OEMs, specialty vehicle manufacturers, certain aftermarkets and trailer producers..