Mayville Engineering (NYSE:MEC - Free Report) had its price objective lifted by Citigroup from $17.00 to $18.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.
Mayville Engineering Trading Up 1.2 %
Shares of NYSE:MEC traded up $0.16 during trading hours on Monday, hitting $13.88. 188,890 shares of the company's stock traded hands, compared to its average volume of 49,474. Mayville Engineering has a 1 year low of $9.55 and a 1 year high of $15.50. The business has a fifty day moving average price of $12.99 and a 200-day moving average price of $12.71. The firm has a market capitalization of $282.60 million, a P/E ratio of 36.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.88 and a quick ratio of 0.93.
Mayville Engineering (NYSE:MEC - Get Free Report) last announced its earnings results on Wednesday, March 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). Mayville Engineering had a net margin of 1.33% and a return on equity of 6.58%. The business had revenue of $148.58 million for the quarter, compared to analysts' expectations of $157.08 million. During the same quarter last year, the firm earned $0.22 EPS. Equities analysts expect that Mayville Engineering will post 0.66 earnings per share for the current year.
Institutional Trading of Mayville Engineering
Several institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in Mayville Engineering in the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its stake in Mayville Engineering by 239.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,523 shares of the company's stock worth $30,000 after buying an additional 3,191 shares in the last quarter. Gladius Capital Management LP bought a new position in Mayville Engineering in the third quarter worth approximately $33,000. Lazard Asset Management LLC bought a new position in Mayville Engineering in the fourth quarter worth approximately $41,000. Finally, California State Teachers Retirement System bought a new position in Mayville Engineering in the second quarter worth approximately $46,000. Institutional investors own 45.44% of the company's stock.
About Mayville Engineering
(
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Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.
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