Piper Jaffray Downgrades Meritor Inc to Underweight

Brokerage firm Piper Jaffray Downgrades its rating on Meritor Inc(NYSE:MTOR). The shares have been rated Underweight. Previously, the analysts had a Buy rating on the shares. The rating by Piper Jaffray was issued on Jun 28, 2016.

Meritor Inc (MTOR) made into the market gainers list on Fridays trading session with the shares advancing 3.61% or 0.26 points. Due to strong positive momentum, the stock ended at $7.46, which is also near the day’s high of $7.57. The stock began the session at $7.31 and the volume stood at 12,45,317 shares. The 52-week high of the shares is $14.42 and the 52 week low is $5.69. The company has a current market capitalization of $666 M and it has 8,92,14,932 shares in outstanding.

Meritor Inc(MTOR) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $821.00M. Analysts had an estimated revenue of $835.81M. Earnings per share were $0.41. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, William J Lyons (director) purchased 2,799 shares at $8.01 per share price.Also, On Dec 3, 2015, Jeffrey A Craig (CEO & President) sold 19,496 shares at $10.34 per share price.On Dec 3, 2015, Paul Bialy (VP, Controller & PAO) sold 2,655 shares at $10.32 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

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