Mayville Engineering Company, Inc. (NYSE:MEC) has been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.67.
Separately, Zacks Investment Research upgraded shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Wednesday.
Shares of NYSE:MEC traded up $0.21 during trading on Friday, reaching $12.16. The stock had a trading volume of 215 shares, compared to its average volume of 52,416. Mayville Engineering has a one year low of $11.16 and a one year high of $17.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 1.37. The stock has a 50-day moving average of $12.96.
Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.15. The firm had revenue of $145.13 million during the quarter, compared to the consensus estimate of $144.43 million. On average, research analysts forecast that Mayville Engineering will post 1.21 EPS for the current year.
In other news, Chairman Robert D. Kamphuis purchased 15,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $12.09 per share, for a total transaction of $181,350.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven L. Fisher purchased 7,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $12.02 per share, for a total transaction of $90,150.00. The disclosure for this purchase can be found here.
Several institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $288,000. Pentwater Capital Management LP purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $1,242,000. Morgan Stanley purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $834,000. Gratia Capital LLC purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $1,147,000. Finally, Putnam Investments LLC purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $2,465,000. 28.77% of the stock is owned by hedge funds and other institutional investors.
Mayville Engineering Company Profile
Mayville Engineering Company, Inc operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction, powersports, agriculture, military, and other end markets in the United States. The company provides a range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components.
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