Meggitt plc (MGGT) Given Average Recommendation of “Hold” by Analysts

Meggitt plc (LON:MGGT) has earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, reports. Four analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is GBX 575.88 ($7.52).

Several brokerages have issued reports on MGGT. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 635 ($8.30) target price on shares of Meggitt in a research report on Wednesday, February 6th. Credit Suisse Group increased their target price on Meggitt from GBX 450 ($5.88) to GBX 465 ($6.08) and gave the company an “underperform” rating in a research report on Wednesday, March 6th. Goldman Sachs Group dropped their target price on Meggitt from GBX 599 ($7.83) to GBX 592 ($7.74) and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Meggitt from GBX 585 ($7.64) to GBX 580 ($7.58) and set a “neutral” rating on the stock in a research report on Thursday. Finally, HSBC began coverage on Meggitt in a research report on Tuesday, February 12th. They set a “buy” rating and a GBX 645 ($8.43) target price on the stock.

In other Meggitt news, insider Tony Wood acquired 227 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of GBX 546 ($7.13) per share, for a total transaction of £1,239.42 ($1,619.52). Also, insider Marina Thomas sold 3,813 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of GBX 524 ($6.85), for a total value of £19,980.12 ($26,107.57). Insiders have acquired a total of 282 shares of company stock worth $153,145 in the last ninety days.

LON MGGT traded down GBX 4.40 ($0.06) during midday trading on Monday, hitting GBX 522.20 ($6.82). 546,801 shares of the company traded hands, compared to its average volume of 3,380,000. The company has a current ratio of 1.80, a quick ratio of 1.01 and a debt-to-equity ratio of 50.39. The stock has a market capitalization of $4.03 billion and a PE ratio of 22.90. Meggitt has a 52 week low of GBX 456.10 ($5.96) and a 52 week high of GBX 583.80 ($7.63).

The business also recently announced a dividend, which was paid on Friday, May 3rd. Shareholders of record on Thursday, March 21st were given a dividend of GBX 11.35 ($0.15) per share. This represents a yield of 2.01%. The ex-dividend date of this dividend was Thursday, March 21st. This is a boost from Meggitt’s previous dividend of $5.30. Meggitt’s dividend payout ratio (DPR) is 0.75%.

Meggitt Company Profile

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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Analyst Recommendations for Meggitt (LON:MGGT)

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