Moog (NYSE:MOG.A) Shares Down 5.6% - Here's Why

Key Points

• Moog shares fell 5.6% to about $413 during Wednesday’s trading, with volume down 55% from the stock’s average daily volume.
• Analysts remain bullish despite the decline: TD Cowen, JPMorgan, and Truist raised or initiated targets, resulting in a consensus “Buy” rating and average price target of $462.33.
• The company recently reported strong quarterly results, with EPS of $3.72 beating estimates of $2.66 and revenue rising 15.2% year over year; however, two directors subsequently sold shares.

Moog Inc. (NYSE:MOG.A - Get Free Report)'s share price was down 5.6% during mid-day trading on Wednesday . The company traded as low as $410.25 and last traded at $413.0140. 134,979 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 298,174 shares. The stock had previously closed at $437.71.

Analysts Set New Price Targets

A number of research firms have commented on MOG.A. TD Cowen raised their price objective on Moog from $350.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. began coverage on Moog in a research note on Monday, July 20th. They issued an "overweight" rating and a $520.00 price objective on the stock. Finally, Truist Financial lifted their price target on shares of Moog from $344.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $462.33.

Moog Trading Down 6.5%

The company has a current ratio of 2.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 34.72 and a beta of 0.98. The firm's 50-day moving average is $409.35 and its 200 day moving average is $351.55.

Moog (NYSE:MOG.A - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $1.06. The firm had revenue of $1.12 billion during the quarter. Moog had a net margin of 8.73% and a return on equity of 17.67%. The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.37 earnings per share. On average, equities analysts predict that Moog Inc. will post 11.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John Scannell sold 3,000 shares of Moog stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $373.58, for a total value of $1,120,740.00. Following the transaction, the director directly owned 33,540 shares of the company's stock, valued at $12,529,873.20. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet M. Coletti sold 604 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $379.66, for a total value of $229,314.64. Following the completion of the sale, the director owned 6,145 shares in the company, valued at $2,333,010.70. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.46% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MOG.A. Globeflex Capital L P bought a new stake in shares of Moog during the 2nd quarter valued at about $2,386,000. Ancora Advisors LLC bought a new stake in shares of Moog in the 2nd quarter valued at $1,323,000. Public Employees Retirement System of Ohio acquired a new position in shares of Moog during the 2nd quarter valued at $426,000. Finally, Archer Investment Corp acquired a new position in shares of Moog during the 2nd quarter valued at $342,000. 87.95% of the stock is owned by institutional investors.

Moog Company Profile

Moog Inc designs, manufactures, and integrates precision motion and fluid controls and controls systems for original equipment manufacturers and end users in the aerospace, defense, and industrial markets worldwide. The company's Aircrafts Controls segment offers primary and secondary flight controls for military and commercial aircrafts; aftermarket support services; and ground-based navigation aids. Its Space and Defense Controls segment provides controls for satellites, space vehicles, launch vehicles, armored combat vehicles, tactical and strategic missiles, security and surveillance, and other defense applications; and gun aiming, stabilization, and automatic ammunition loading for armored combat vehicles.

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