Meritor Inc (MTOR) is Downgraded by Piper Jaffray to Underweight

Meritor Inc (MTOR) was Downgraded by Piper Jaffray to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Jun 28, 2016.

On the company’s financial health, Meritor Inc reported $0.41 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.41. The company had revenue of $821.00 million for the quarter, compared to analysts expectations of $831.38 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Meritor Inc closed down -0.89 points or -11.10% at $7.13 with 14,22,544 shares getting traded on Monday. Post opening the session at $7.76, the shares hit an intraday low of $7.13 and an intraday high of $7.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 20, 2016, William J Lyons (director) purchased 2,799 shares at $8.01 per share price. According to the SEC, 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.

Meritor Inc

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