Mayville Engineering Stock Price, News & Analysis (NYSE:MEC)

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Mayville Engineering in the last year. There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MEC shares.
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4 brokers have issued 12 month price objectives for Mayville Engineering's shares. Their MEC share price targets range from $14.00 to $20.00. On average, they anticipate the company's stock price to reach $17.33 in the next year. This suggests a possible upside of 32.6% from the stock's current price.
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Mayville Engineering's stock was trading at $12.66 on January 1st, 2023. Since then, MEC stock has increased by 3.2% and is now trading at $13.07.
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Mayville Engineering saw a increase in short interest in October. As of October 31st, there was short interest totaling 441,700 shares, an increase of 26.3% from the October 15th total of 349,700 shares. Based on an average daily volume of 69,100 shares, the days-to-cover ratio is presently 6.4 days. Approximately 3.3% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 27th 2024.
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Mayville Engineering Company, Inc. (NYSE:MEC) released its earnings results on Tuesday, October, 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm earned $158.22 million during the quarter, compared to analyst estimates of $159.54 million. Mayville Engineering had a net margin of 1.41% and a trailing twelve-month return on equity of 7.64%.

Mayville Engineering issued an update on its FY 2023 earnings guidance on Wednesday, September, 20th. The company provided EPS guidance of for the period. The company issued revenue guidance of $580.00 million-$610.00 million, compared to the consensus revenue estimate of $596.20 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Mayville Engineering investors own include Energy Transfer (ET), Aurora Cannabis (ACB), Alibaba Group (BABA), Walt Disney (DIS), NVIDIA (NVDA), OPKO Health (OPK), SSR Mining (SSRM), VBI Vaccines (VBIV), AbbVie (ABBV) and Aldeyra Therapeutics (ALDX).

(MEC) raised $126 million in an initial public offering (IPO) on Thursday, May 9th 2019. The company issued 6,300,000 shares at $19.00-$21.00 per share. Baird, Citigroup and Jefferies served as the underwriters for the IPO and UBS Investment Bank and William Blair were co-managers.

Mayville Engineering's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Allspring Global Investments Holdings LLC (12.90%), Tocqueville Asset Management L.P. (3.20%), UBS Group AG (1.09%), Blair William & Co. IL (0.96%), Ancora Advisors LLC (0.81%) and American Century Companies Inc. (0.48%). Insiders that own company stock include Jagadeesh A Reddy, Patrick D Michels, Robert D Kamphuis, Steven L Fisher, Timothy L Christen and Todd M Butz.
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Shares of MEC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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