Northland Capmk Issues Optimistic Estimate for MEC Earnings

Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) - Investment analysts at Northland Capmk lifted their FY2027 earnings estimates for shares of Mayville Engineering in a note issued to investors on Thursday, March 6th. Northland Capmk analyst E. Jackson now forecasts that the company will earn $0.68 per share for the year, up from their prior forecast of $0.58. The consensus estimate for Mayville Engineering's current full-year earnings is $0.31 per share. Northland Capmk also issued estimates for Mayville Engineering's FY2029 earnings at $0.66 EPS.

Separately, Citigroup cut their target price on Mayville Engineering from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th.

Mayville Engineering Stock Down 0.6 %

MEC traded down $0.10 during midday trading on Friday, reaching $14.83. 128,159 shares of the company were exchanged, compared to its average volume of 88,103. The company has a market cap of $306.05 million, a price-to-earnings ratio of 25.13 and a beta of 0.92. Mayville Engineering has a one year low of $12.47 and a one year high of $23.02. The company's fifty day moving average price is $15.37 and its 200 day moving average price is $17.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77.

Institutional Investors Weigh In On Mayville Engineering

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Mayville Engineering by 1.8% in the fourth quarter. Barclays PLC now owns 38,143 shares of the company's stock worth $600,000 after purchasing an additional 657 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Mayville Engineering by 2.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 41,363 shares of the company's stock worth $650,000 after purchasing an additional 943 shares during the period. Sheets Smith Wealth Management boosted its holdings in shares of Mayville Engineering by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 36,525 shares of the company's stock worth $574,000 after buying an additional 1,130 shares during the last quarter. Principal Financial Group Inc. grew its position in Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock valued at $228,000 after buying an additional 1,417 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Mayville Engineering by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,252 shares of the company's stock worth $722,000 after buying an additional 1,760 shares during the last quarter. 45.44% of the stock is owned by institutional investors.

Remove Ads

About Mayville Engineering

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.