Insider Buying: Meggitt plc (LON:MGGT) Insider Purchases 26 Shares of Stock

Meggitt plc (LON:MGGT) insider Nancy Gioia acquired 26 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of GBX 642 ($8.39) per share, for a total transaction of £166.92 ($218.11).

Meggitt stock opened at GBX 637.80 ($8.33) on Wednesday. Meggitt plc has a 1-year low of GBX 456.10 ($5.96) and a 1-year high of GBX 646.60 ($8.45). The firm has a market capitalization of $5.00 billion and a price-to-earnings ratio of 34.48. The firm’s fifty day moving average price is GBX 620.50 and its two-hundred day moving average price is GBX 576.95. The company has a current ratio of 1.57, a quick ratio of 0.83 and a debt-to-equity ratio of 50.95.

A number of research analysts have weighed in on MGGT shares. Investec lowered shares of Meggitt to a “hold” rating in a research note on Monday, October 14th. Credit Suisse Group raised their price objective on shares of Meggitt from GBX 465 ($6.08) to GBX 525 ($6.86) and gave the company an “underperform” rating in a research note on Wednesday, November 13th. UBS Group reaffirmed a “sell” rating on shares of Meggitt in a research note on Thursday, September 12th. Berenberg Bank raised their price objective on shares of Meggitt from GBX 610 ($7.97) to GBX 695 ($9.08) and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Goldman Sachs Group raised their price objective on shares of Meggitt from GBX 679 ($8.87) to GBX 736 ($9.62) and gave the company a “buy” rating in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 597.60 ($7.81).

Meggitt Company Profile

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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