Mayville Engineering (NYSE:MEC – Free Report) had its target price hoisted by Citigroup from $17.00 to $21.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Separately, DA Davidson initiated coverage on shares of Mayville Engineering in a research report on Tuesday, June 17th. They set a “buy” rating and a $23.00 target price for the company.

Check Out Our Latest Research Report on Mayville Engineering

Mayville Engineering Stock Down 0.4%

MEC stock opened at $16.11 on Monday. The company has a market cap of $329.65 million, a P/E ratio of 14.92 and a beta of 1.15. Mayville Engineering has a 52 week low of $11.72 and a 52 week high of $23.02. The company’s 50-day moving average price is $15.57 and its 200 day moving average price is $14.79. The company has a current ratio of 1.67, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31.

Mayville Engineering (NYSE:MEC – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $135.58 million for the quarter, compared to the consensus estimate of $134.52 million. Mayville Engineering had a net margin of 4.09% and a return on equity of 9.30%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, research analysts expect that Mayville Engineering will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mayville Engineering

Several institutional investors and hedge funds have recently modified their holdings of the company. CHICAGO TRUST Co NA purchased a new position in shares of Mayville Engineering during the second quarter valued at approximately $165,000. Strs Ohio purchased a new position in shares of Mayville Engineering during the first quarter valued at approximately $450,000. Jane Street Group LLC lifted its stake in shares of Mayville Engineering by 158.6% during the first quarter. Jane Street Group LLC now owns 47,194 shares of the company’s stock valued at $634,000 after buying an additional 28,946 shares during the period. Empowered Funds LLC lifted its stake in shares of Mayville Engineering by 7.3% during the first quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock valued at $1,319,000 after buying an additional 6,694 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its stake in shares of Mayville Engineering by 35.7% during the first quarter. Polar Asset Management Partners Inc. now owns 131,053 shares of the company’s stock valued at $1,760,000 after buying an additional 34,500 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About Mayville Engineering

(Get Free Report)

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.

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