Mayville Engineering Company, Inc. (NYSE:MEC) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Six brokers give MEC an average "Moderate Buy" (4 buys, 1 hold, 1 sell) with a 1‑year average price target of $24.25 and several recent upgrades lifting targets into the $23–$25 range.
• Operational/financials: The company beat the quarter with EPS of ($0.08) versus ($0.16) expected and revenue of $134.27M, but still reports a negative net margin (−1.48%) and negative ROE while trading around $20.83 with a market cap of roughly $423M.
• Insiders and institutions: An insider sold shares, cutting their stake by about 36%, while institutional investors have been adding positions so that hedge funds and institutions now own about 45.44% of the stock.

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.25.

MEC has been the subject of a number of research reports. Northland Securities upgraded Mayville Engineering from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $20.00 to $25.00 in a report on Thursday, March 5th. Weiss Ratings downgraded Mayville Engineering from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, March 5th. Zacks Research raised Mayville Engineering from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. DA Davidson upped their target price on Mayville Engineering from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Finally, Citigroup raised their price target on Mayville Engineering from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, March 5th.

Mayville Engineering Trading Up 1.7%

MEC stock opened at $20.83 on Tuesday. Mayville Engineering has a 12 month low of $11.72 and a 12 month high of $22.36. The firm's 50-day moving average is $19.54 and its 200 day moving average is $17.79. The company has a market capitalization of $423.33 million, a PE ratio of -52.08 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.72 and a quick ratio of 0.92.

Mayville Engineering (NYSE:MEC - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. The company had revenue of $134.27 million during the quarter, compared to analysts' expectations of $132.51 million. Mayville Engineering had a negative net margin of 1.48% and a negative return on equity of 2.33%. On average, research analysts anticipate that Mayville Engineering will post 0.31 EPS for the current year.

Insider Transactions at Mayville Engineering

In other Mayville Engineering news, insider Sean P. Leuba sold 6,698 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $18.81, for a total transaction of $125,989.38. Following the transaction, the insider directly owned 11,841 shares in the company, valued at $222,729.21. This represents a 36.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mayville Engineering

Several hedge funds have recently modified their holdings of MEC. EVR Research LP purchased a new position in Mayville Engineering during the fourth quarter valued at approximately $11,326,000. Ameriprise Financial Inc. lifted its holdings in Mayville Engineering by 894.2% during the third quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company's stock worth $5,424,000 after buying an additional 354,514 shares during the period. 22NW LP boosted its position in Mayville Engineering by 157.2% during the 3rd quarter. 22NW LP now owns 399,890 shares of the company's stock valued at $5,502,000 after acquiring an additional 244,440 shares in the last quarter. Congruence Capital LLC bought a new stake in Mayville Engineering during the 4th quarter valued at $3,896,000. Finally, Blair William & Co. IL increased its holdings in shares of Mayville Engineering by 54.8% in the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company's stock valued at $10,928,000 after acquiring an additional 206,549 shares during the period. Hedge funds and other institutional investors own 45.44% of the company's stock.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc NYSE: MEC is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.

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