Meggitt plc (MGGT) Earns Underperform Rating from Credit Suisse Group AG

Meggitt plc (MGGT) Earns Underperform Rating from Credit Suisse Group AG

Meggitt plc (LON:MGGT)‘s stock had its “underperform” rating reissued by stock analysts at Credit Suisse Group AG in a research note issued on Monday.

Several other brokerages have also recently weighed in on MGGT. Beaufort Securities reiterated a “buy” rating on shares of Meggitt plc in a research note on Friday, June 24th. Berenberg Bank reiterated a “buy” rating and issued a GBX 450 ($5.87) price objective on shares of Meggitt plc in a research note on Tuesday, July 19th. Morgan Stanley lifted their price objective on shares of Meggitt plc from GBX 435 ($5.68) to GBX 450 ($5.87) and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Liberum Capital reiterated a “hold” rating and issued a GBX 390 ($5.09) price objective on shares of Meggitt plc in a research note on Tuesday, August 2nd. Finally, Deutsche Bank AG dropped their price objective on shares of Meggitt plc from GBX 376 ($4.91) to GBX 370 ($4.83) and set a “hold” rating for the company in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Meggitt plc presently has a consensus rating of “Hold” and an average price target of GBX 433.63 ($5.66).

Meggitt plc (LON:MGGT) traded up 0.91% during mid-day trading on Monday, hitting GBX 455.10. 1,097,331 shares of the stock traded hands. Meggitt plc has a one year low of GBX 337.60 and a one year high of GBX 498.40. The company has a 50 day moving average price of GBX 464.32 and a 200-day moving average price of GBX 418.56. The stock’s market capitalization is GBX 3.52 billion.

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The company also recently disclosed a dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 8th were paid a GBX 4.80 ($0.06) dividend. This represents a dividend yield of 1.14%. The ex-dividend date was Thursday, September 8th.

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