Meggitt (LON:MGGT) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from GBX 550 ($7.35) to GBX 540 ($7.22) in a report issued on Friday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 11.85% from the company’s previous close.
MGGT has been the subject of a number of other research reports. Credit Suisse Group reiterated an “underperform” rating on shares of Meggitt in a research report on Tuesday, October 24th. Liberum Capital reiterated a “sell” rating and set a GBX 375 ($5.01) price target on shares of Meggitt in a research report on Monday, October 2nd. Finally, Jefferies Group restated a “buy” rating on shares of Meggitt in a research report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 492.20 ($6.58).
Shares of Meggitt (LON:MGGT) opened at GBX 482.80 ($6.46) on Friday. The stock has a market capitalization of $3,760.00 and a PE ratio of 1,304.86. Meggitt has a 12-month low of GBX 407.40 ($5.45) and a 12-month high of GBX 530 ($7.09).
In other news, insider Nigel Rudd bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of GBX 477 ($6.38) per share, for a total transaction of £7,155 ($9,566.79). Insiders purchased a total of 1,575 shares of company stock valued at $753,073 in the last 90 days.
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Meggitt Company Profile
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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