Mayville Engineering (NYSE:MEC) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Mayville Engineering (NYSE:MEC) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “Mayville Engineering Company Inc. provides prototyping and tooling, production fabrication, coating, assembly and aftermarket services. It serves heavy and medium duty commercial vehicle, construction, powersports, agriculture, military and other end markets. The company also provides engineering and development services. It offers conventional and CNC stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. Mayville Engineering Company Inc. is based in Wisconsin, United States. “

Separately, ValuEngine lowered shares of Mayville Engineering from a sell rating to a strong sell rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $16.67.

Shares of MEC stock opened at $8.04 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. Mayville Engineering has a 12-month low of $7.50 and a 12-month high of $17.40. The business’s fifty day simple moving average is $8.34 and its 200-day simple moving average is $10.50.

A number of large investors have recently bought and sold shares of MEC. Barclays PLC boosted its holdings in Mayville Engineering by 99.3% in the fourth quarter. Barclays PLC now owns 6,305 shares of the company’s stock valued at $59,000 after purchasing an additional 3,141 shares during the last quarter. UBS Group AG boosted its holdings in Mayville Engineering by 91.4% in the fourth quarter. UBS Group AG now owns 10,610 shares of the company’s stock valued at $99,000 after purchasing an additional 5,066 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Mayville Engineering in the fourth quarter valued at $130,000. Marshall Wace LLP purchased a new stake in Mayville Engineering in the fourth quarter valued at $213,000. Finally, Alambic Investment Management L.P. purchased a new stake in Mayville Engineering in the fourth quarter valued at $218,000. 30.86% of the stock is currently owned by institutional investors.

About Mayville Engineering

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.

Featured Story: What is a stock split?

Get a free copy of the Zacks research report on Mayville Engineering (MEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Mayville Engineering (NYSE:MEC)

Receive News & Ratings for Mayville Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mayville Engineering and related companies with MarketBeat.com's FREE daily email newsletter.