Meritor (MTOR) Shares are Up 1.49%

Meritor (MTOR) : Traders are bullish on Meritor (MTOR) as it has outperformed the S&P 500 by a wide margin of 30.07% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.43%, 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 1.49% in the last 1 week, and is up 31.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 16.77% and the 50-Day Moving Average is 23%. Meritor (NYSE:MTOR): On Fridays trading session , Opening price of the stock was $10.13 with an intraday high of $10.28. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $10.0802. However, the stock managed to close at $10.25, a loss of 0.19% for the day. On the previous day, the stock had closed at $10.27. The total traded volume of the day was 694,598 shares.


The company Insiders own 1.49% of Meritor shares according to the proxy statements. Institutional Investors own 91.98% of Meritor shares. During last six month period, the net percent change held by insiders has seen a change of 4.9%. Also, Citigroup maintains its rating on Meritor (NYSE:MTOR). The global brokerage major raises the current price target from $9 per share to $10 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. 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.

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