Meggitt (LON:MGGT) Receives a Downgrade
London-listed Meggitt (LON:MGGT), was cut by stock research analysts at AlphaValue who cut their rating on the 2.83B GBP market cap firm to a “Add”, but decided to stick with their target price per share of GBX 410 on MGGT shares.
From a total of 20 analysts covering Meggitt PLC (LON:MGGT) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 13 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is GBX 550 while the lowest target price is GBX 360. The mean of all analyst targets is GBX 429.05 with a 29.01% above today’s (GBX 362) stock price. Meggitt PLC was the topic of 69 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on December 9 with “Neutral” rating. Liberum Capital maintained shares with “Hold” rating and GBX 390 target share price in a report from a December 7. JP Morgan maintained MGGT stock in a recent report from December 8 with “Neutral” rating. Deutsche Bank maintained the rating on December 4. Deutsche Bank has a “Hold” rating and a GBX 400 price target on shares. Finally, Investec maintained the stock with “Buy” rating in a report issued on a December 7.
Approximately 937,538 shares of stock traded hands. Meggitt plc (LON:MGGT) has declined 29.80% since May 14, 2015 and is downtrending. It has underperformed by 26.78% the S&P500.
Meggitt PLC is a United Kingdom-based engineering company. The company has a market cap of 2.83 billion GBP. The Firm is engaged in designing and manufacturing of components and sub-systems providing functionality in applications within civil aerospace, military and energy markets. It has 14.96 P/E ratio. The Firm manages its businesses under the key divisions of Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems and the Meggitt Equipment Group.