MTOR - Watch for Continued Gains in Shares of Meritor Inc. (MTOR)
Shares of Meritor Inc. (NYSE:MTOR) traded at a new 52-week high today of $36.30. So far today approximately 337,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.
Meritor Inc is a manufacturer of automobile parts for commercial vehicles and industrial markets. The company offers drivetrain, axle, brake, and suspension solutions for commercial trucks, trailers, buses, coaches, off-highway machinery, and defence contractors. The company serves original equipment markets as well as the aftermarket segment for the transportation and industrial sectors. Meritor generates the majority of its revenue from its commercial truck and industrial segment. Geographically, sales are focused on North American markets.
Based on a current price of $36.26, Meritor Inc. is currently 10.8% above its average consensus analyst price target of $32.33.
Over the past year, Meritor Inc. has traded in a range of $20.50 to $36.30 and is now at $36.26, 77% above that low.
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