Bank of America Begins Coverage on Mobility Global (NYSE:MBGL)

Key Points

• Bank of America initiated coverage of Mobility Global with a “neutral” rating and a $23 price target, implying roughly 14% upside from the prior close.
• Analyst sentiment is mixed but leans cautious: Mobility Global has a consensus “Hold” rating and an average price target of $22.83, with recent target reductions from Robert W. Baird and Wells Fargo.
• Mobility Global reported quarterly EPS of $0.18 on revenue of $468 million. Separately, insiders purchased 50,000 shares worth approximately $981,000 during the last quarter, including a 15,000-share purchase by director Mark S. Peek.

Investment analysts at Bank of America assumed coverage on shares of Mobility Global (NYSE:MBGL - Get Free Report) in a research note issued on Friday. The firm set a "neutral" rating and a $23.00 price target on the stock. Bank of America's price target points to a potential upside of 14.09% from the company's previous close.

MBGL has been the topic of a number of other research reports. Wall Street Zen upgraded Mobility Global to a "hold" rating in a research note on Saturday, July 18th. Robert W. Baird decreased their price objective on Mobility Global from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Citigroup began coverage on shares of Mobility Global in a report on Tuesday, August 11th. They issued a "neutral" rating and a $23.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Mobility Global from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Finally, Wolfe Research raised shares of Mobility Global to a "strong-buy" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $22.83.

Mobility Global Price Performance

Shares of MBGL opened at $20.16 on Friday. Mobility Global has a 1-year low of $17.67 and a 1-year high of $26.00. The firm has a market capitalization of $5.97 billion and a P/E ratio of 112.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88.

Mobility Global (NYSE:MBGL - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $468.00 million for the quarter. As a group, equities analysts expect that Mobility Global will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling at Mobility Global

In other Mobility Global news, Director Mark S. Peek purchased 15,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $19.87 per share, for a total transaction of $298,050.00. Following the completion of the purchase, the director directly owned 50,000 shares in the company, valued at $993,500. This represents a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 50,000 shares of company stock valued at $980,550 in the last quarter.

Institutional Investors Weigh In On Mobility Global

An institutional investor recently bought a new stake in Mobility Global stock. Advisors Preferred LLC bought a new position in shares of Mobility Global, Inc. (NYSE:MBGL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,800 shares of the company's stock, valued at approximately $36,000.

About Mobility Global

Mobility Global Inc providing critical data and analytics across the full vehicle lifecycle. Its portfolio of trusted brands and products includes CARFAX, automotiveMastermind, Polk Automotive Solutions and Market Scan, supporting automotive manufacturers, suppliers, dealer groups, media, financial institutions and consumers. Mobility Global Inc is based in NEW YORK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source