Mayville Engineering - MEC Stock Forecast, Price & News

1 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 for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" MEC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MEC, but not buy additional shares or sell existing shares.
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1 brokers have issued 12 month price objectives for Mayville Engineering's shares. Their MEC share price forecasts range from $13.00 to $13.00. On average, they anticipate the company's share price to reach $13.00 in the next twelve months. This suggests a possible upside of 91.5% from the stock's current price.
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Mayville Engineering's stock was trading at $14.91 at the beginning of 2022. Since then, MEC shares have decreased by 54.5% and is now trading at $6.79.
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Mayville Engineering saw a decline in short interest during the month of August. As of August 15th, there was short interest totaling 77,800 shares, a decline of 30.7% from the July 31st total of 112,300 shares. Based on an average daily trading volume, of 87,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.9% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 1st 2022.
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Mayville Engineering Company, Inc. (NYSE:MEC) released its quarterly earnings data on Tuesday, August, 2nd. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.34 by $0.05. The firm had revenue of $138.34 million for the quarter, compared to analyst estimates of $137.72 million. Mayville Engineering had a positive trailing twelve-month return on equity of 4.48% and a negative net margin of 0.71%. During the same period in the prior year, the firm posted $0.16 EPS.

Mayville Engineering issued an update on its FY 2022 earnings guidance on Tuesday, August, 9th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $480.00 million-$530.00 million, compared to the consensus revenue estimate of $533.10 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 acted as the underwriters for the IPO and UBS Investment Bank and William Blair were co-managers.

Mayville Engineering trades on the New York Stock Exchange (NYSE) under the ticker symbol "MEC."

Mayville Engineering's stock is owned by many different retail and institutional investors. Top institutional shareholders include Allspring Global Investments Holdings LLC (11.98%), Jennison Associates LLC (4.28%), Millennium Management LLC (1.10%), UBS Group AG (0.78%), Citadel Advisors LLC (0.49%) and Renaissance Technologies LLC (0.45%). Insiders that own company stock include Craig E Johnson, Eric J Welak, Jay O Rothman, Patrick D Michels, Peter John A St, Robert D Kamphuis, Ryan F Raber, Slater Chad, 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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One share of MEC stock can currently be purchased for approximately $6.79.

Mayville Engineering (NYSE:MEC) has a market capitalization of $139.40 million and generates $454.83 million in revenue each year. The company earns $-7,450,000.00 in net income (profit) each year or ($0.16) on an earnings per share basis.

The company employs 2,200 workers across the globe.

Mayville Engineering's mailing address is 715 SOUTH STREET, MAYVILLE WI, 53050. The official website for the company is www.mecinc.com. The company can be reached via phone at (920) 387-4500 or via email at nelwell@lincolnchurchilladvisors.com.