Mayville Engineering Company, Inc. (MEC) – What Are Brokerages Saying About This Stock?

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.75.

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Northland Securities set a $40.00 target price on shares of Mayville Engineering in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Mayville Engineering in a research report on Tuesday, October 6th. Finally, DA Davidson raised their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd.

Insiders Place Their Bets

In other news, SVP Sean Leuba sold 12,855 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $25.44, for a total value of $327,031.20. Following the completion of the transaction, the senior vice president directly owned 6,633 shares in the company, valued at approximately $168,743.52. This represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Mayville Engineering

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Mayville Engineering in the 2nd quarter worth approximately $53,000. Parkside Financial Bank & Trust boosted its stake in shares of Mayville Engineering by 4,657.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,665 shares of the company’s stock valued at $62,000 after buying an additional 1,630 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Mayville Engineering during the 2nd quarter valued at $80,000. Engineers Gate Manager LP purchased a new position in shares of Mayville Engineering during the 2nd quarter valued at $213,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Mayville Engineering during the 2nd quarter valued at $255,000. 45.44% of the stock is owned by institutional investors and hedge funds.

Mayville Engineering Stock Down 0.3%

Shares of NYSE MEC opened at $15.06 on Tuesday. Mayville Engineering has a 12-month low of $12.25 and a 12-month high of $38.76. The company has a market capitalization of $384.03 million, a PE ratio of -17.93 and a beta of 1.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.96. The firm’s 50-day moving average is $19.52 and its two-hundred day moving average is $24.65.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%. The company had revenue of $162.98 million during the quarter, compared to analysts’ expectations of $150.59 million. Equities analysts anticipate that Mayville Engineering will post -0.22 EPS for the current fiscal year.

About Mayville Engineering

Mayville Engineering Company, Inc (NYSE: MEC) is a manufacturing services provider headquartered in Mayville, Wisconsin. The company develops and produces engineered metal components, assemblies and related products for original equipment manufacturers (OEMs).

MEC offers a range of vertically integrated services, including product and process engineering, tooling and fixture design, metal stamping, fabrication, machining, tube bending, robotic and manual welding, powder coating, and final assembly.