Meritor (MTOR) : Traders are bullish on Meritor (MTOR) as it has outperformed the S&P 500 by a wide margin of 31.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.29% in the last 1 week, and is up 31.98% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Meritor, Inc. is up 30.68% in the last 3-month period. Year-to-Date the stock performance stands at 28.02%. The stock has recorded a 20-day Moving Average of 12.55% and the 50-Day Moving Average is 25.45%.
Meritor (NYSE:MTOR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.66 and $10.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.69, notching a gain of 0.09% for the day. The total traded volume was 1,230,676 . The stock had closed at $10.68 on the previous day.
Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Meritor (NYSE:MTOR). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Citigroup raises the price target from $9 per share to $10 per share. The rating by the firm was issued on August 8, 2016.
Meritor, Inc. is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Companys segments include commercial truck and industrial, and aftermarket and trailer. Its commercial truck and industrial segment supplies drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium- and heavy-duty trucks in North America, South America and Europe. This segment also supplies components for defense, construction, bus and coach, mining, fire and emergency applications, and Aftermarket and Trailer segment, which supplies new and remanufactured axles, brakes, suspensions, transmissions and components for all-makes aftermarket customers, and also supplies a variety of undercarriage products and systems for trailer applications.