Mayville Engineering (NYSE:MEC) Stock Rating Lowered by Northland Securities

Mayville Engineering (NYSE:MEC) was downgraded by research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They presently have a $20.00 target price on the stock, down from their prior target price of $30.00. Northland Securities’ target price would indicate a potential upside of 16.62% from the stock’s previous close.

Mayville Engineering Stock Performance

Shares of Mayville Engineering stock opened at $17.15 on Thursday. The stock has a market cap of $353.63 million, a price-to-earnings ratio of 29.07 and a beta of 0.97. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.51. Mayville Engineering has a twelve month low of $10.75 and a twelve month high of $23.02. The company’s fifty day moving average is $19.91 and its 200 day moving average is $17.94.

Mayville Engineering (NYSE:MEC) last posted its earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Mayville Engineering had a return on equity of 5.22% and a net margin of 2.01%. The business had revenue of $135.39 million during the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the prior year, the company earned $0.21 EPS. Sell-side analysts forecast that Mayville Engineering will post 0.68 EPS for the current year.

Insider Activity

In related news, EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value of $411,878.20. Following the completion of the transaction, the executive vice president now directly owns 97,053 shares of the company’s stock, valued at approximately $1,858,564.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $19.15, for a total transaction of $411,878.20. Following the sale, the executive vice president now owns 97,053 shares in the company, valued at approximately $1,858,564.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jagadeesh A. Reddy bought 5,903 shares of Mayville Engineering stock in a transaction that occurred on Thursday, November 7th. The shares were acquired at an average cost of $16.72 per share, for a total transaction of $98,698.16. Following the acquisition, the chief executive officer now owns 89,052 shares in the company, valued at $1,488,949.44. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Mayville Engineering

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in Mayville Engineering in the 3rd quarter worth $60,000. Lazard Asset Management LLC bought a new stake in Mayville Engineering in the 1st quarter worth $73,000. BNP Paribas Financial Markets boosted its stake in shares of Mayville Engineering by 49.6% during the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after purchasing an additional 1,799 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Mayville Engineering during the 1st quarter valued at about $147,000. Finally, Net Worth Advisory Group bought a new stake in shares of Mayville Engineering during the 3rd quarter valued at about $237,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.