Mayville Engineering (NYSE:MEC) Stock Rating Upgraded by Zacks Investment Research

Mayville Engineering (NYSE:MEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Mayville Engineering Company Inc. provides prototyping and tooling, production fabrication, coating, assembly and aftermarket services. It serves heavy and medium duty commercial vehicle, construction, powersports, agriculture, military and other end markets. The company also provides engineering and development services. It offers conventional and CNC stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly and logistic services. Mayville Engineering Company Inc. is based in Wisconsin, United States. “

Shares of NYSE:MEC traded down $0.26 during trading on Friday, reaching $9.62. 39,739 shares of the stock were exchanged, compared to its average volume of 82,180. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.87. Mayville Engineering has a 12-month low of $7.70 and a 12-month high of $17.40. The company has a 50-day moving average price of $11.98.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, October 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.17. Mayville Engineering had a positive return on equity of 13.70% and a negative net margin of 0.51%. The business had revenue of $128.51 million during the quarter, compared to analysts’ expectations of $140.10 million. Analysts predict that Mayville Engineering will post 1.05 earnings per share for the current year.

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In other news, Director Steven L. Fisher bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $12.02 per share, for a total transaction of $90,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Todd M. Butz bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $10.21 per share, with a total value of $102,100.00. Insiders have bought a total of 62,500 shares of company stock valued at $643,975 in the last quarter.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of Mayville Engineering during the 2nd quarter worth about $25,000. Russell Investments Group Ltd. acquired a new position in Mayville Engineering during the 2nd quarter worth approximately $28,000. Tower Research Capital LLC TRC acquired a new position in Mayville Engineering during the 2nd quarter worth approximately $39,000. FNY Investment Advisers LLC acquired a new position in Mayville Engineering during the 2nd quarter worth approximately $59,000. Finally, Bailard Inc. acquired a new position in Mayville Engineering during the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction, powersports, agriculture, military, and other end markets in the United States. The company provides a range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components.

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Analyst Recommendations for Mayville Engineering (NYSE:MEC)

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