Analysts Set Meggitt PLC (LON:MGGT) Price Target at GBX 410.71

Meggitt PLC (LON:MGGT) has received a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is GBX 410.71 ($5.37).

A number of research analysts recently weighed in on MGGT shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating and issued a GBX 430 ($5.62) price target on shares of Meggitt in a research note on Monday, May 10th. Berenberg Bank lifted their price target on Meggitt from GBX 460 ($6.01) to GBX 480 ($6.27) and gave the stock a “buy” rating in a research note on Friday, March 5th. Finally, JPMorgan Chase & Co. boosted their price target on Meggitt from GBX 445 ($5.81) to GBX 490 ($6.40) and gave the stock a “neutral” rating in a research report on Monday, April 12th.

In other Meggitt news, insider Louisa Burdett sold 2,785 shares of the stock in a transaction that occurred on Thursday, April 8th. The shares were sold at an average price of GBX 486 ($6.35), for a total transaction of £13,535.10 ($17,683.69).

Shares of LON MGGT opened at GBX 496.94 ($6.49) on Tuesday. The firm has a market capitalization of £3.88 billion and a price-to-earnings ratio of -12.30. The firm has a 50-day moving average of GBX 484.26. The company has a current ratio of 1.92, a quick ratio of 1.01 and a debt-to-equity ratio of 46.82. Meggitt has a 52-week low of GBX 245.10 ($3.20) and a 52-week high of GBX 533.60 ($6.97).

About Meggitt

Meggitt PLC designs and manufactures components and sub-systems in the United Kingdom, rest of Europe, the United States, and internationally. The company operates in four segments: Airframe Systems, Engine Systems, Energy & Equipment, and Services & Support. It offers ice protection products, radomes, and structures; air data and flight display products; brake control and tyre pressure monitoring systems, and wheels and brakes; engine health and vibration monitors, H2/O2 analyzers, and turbine monitoring and protection products; and aircraft cameras and security systems, and wireless aircraft systems.

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Analyst Recommendations for Meggitt (LON:MGGT)

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