MGGT has been the subject of a number of other research reports. Jefferies Financial Group reaffirmed a buy rating and set a GBX 635 ($8.30) target price on shares of Meggitt in a report on Wednesday, February 6th. Credit Suisse Group lifted their target price on Meggitt from GBX 450 ($5.88) to GBX 465 ($6.08) and gave the stock an underperform rating in a report on Wednesday, March 6th. Goldman Sachs Group decreased their target price on Meggitt from GBX 599 ($7.83) to GBX 592 ($7.74) and set a neutral rating for the company in a report on Thursday. HSBC began coverage on Meggitt in a report on Tuesday, February 12th. They set a buy rating and a GBX 645 ($8.43) target price for the company. Finally, Berenberg Bank lifted their target price on Meggitt from GBX 570 ($7.45) to GBX 610 ($7.97) and gave the stock a buy rating in a report on Wednesday, February 27th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of GBX 576.33 ($7.53).
Shares of Meggitt stock traded down GBX 5.60 ($0.07) on Thursday, reaching GBX 526.60 ($6.88). 1,382,534 shares of the stock were exchanged, compared to its average volume of 3,380,000. The company has a quick ratio of 1.01, a current ratio of 1.80 and a debt-to-equity ratio of 50.39. Meggitt has a twelve month low of GBX 456.10 ($5.96) and a twelve month high of GBX 583.80 ($7.63). The company has a market capitalization of $4.11 billion and a price-to-earnings ratio of 23.10.
In other news, insider Marina Thomas sold 3,813 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of GBX 524 ($6.85), for a total value of £19,980.12 ($26,107.57). Also, insider Tony Wood bought 227 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average cost of GBX 546 ($7.13) per share, for a total transaction of £1,239.42 ($1,619.52). In the last ninety days, insiders bought 282 shares of company stock worth $153,145.
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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