The stock price of Mayville Engineering Company Inc (NYSE: MEC) has jumped by 10.13 compared to previous close of 13.62. Despite this, the company has seen a gain of 11.44% in its stock price over the last five trading days. Business Wire reported 2024-04-24 that MILWAUKEE–(BUSINESS WIRE)–Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it will issue first quarter 2024 results after the market closes on Tuesday, May 7, 2024. A conference call will be held the following day, Wednesday, May 8, 2024, at 10:00 a.m. ET to review the Company’s financial results, discuss recent events and conduct a question-and.
Is It Worth Investing in Mayville Engineering Company Inc (NYSE: MEC) Right Now?
Mayville Engineering Company Inc (NYSE: MEC) has a price-to-earnings ratio of 36.48x that is above its average ratio. Additionally, the 36-month beta value for MEC is 0.83. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for MEC is 13.48M and currently, short sellers hold a 2.04% ratio of that float. The average trading volume of MEC on May 09, 2024 was 54.92K shares.
MEC’s Market Performance
MEC’s stock has seen a 11.44% increase for the week, with a 6.46% rise in the past month and a 18.20% gain in the past quarter. The volatility ratio for the week is 4.92%, and the volatility levels for the past 30 days are at 3.67% for Mayville Engineering Company Inc. The simple moving average for the past 20 days is 9.10% for MEC’s stock, with a 19.18% simple moving average for the past 200 days.
Analysts’ Opinion of MEC
Many brokerage firms have already submitted their reports for MEC stocks, with Robert W. Baird repeating the rating for MEC by listing it as a “Neutral.” The predicted price for MEC in the upcoming period, according to Robert W. Baird is $14 based on the research report published on June 09, 2023 of the previous year 2023.
Northland Capital, on the other hand, stated in their research note that they expect to see MEC reach a price target of $20. The rating they have provided for MEC stocks is “Outperform” according to the report published on May 17th, 2023.
Robert W. Baird gave a rating of “Outperform” to MEC, setting the target price at $15 in the report published on November 03rd of the previous year.
MEC Trading at 10.85% from the 50-Day Moving Average
After a stumble in the market that brought MEC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.23% of loss for the given period.
Volatility was left at 3.67%, however, over the last 30 days, the volatility rate increased by 4.92%, as shares surge +9.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.63% upper at present.
During the last 5 trading sessions, MEC rose by +11.44%, which changed the moving average for the period of 200-days by +26.05% in comparison to the 20-day moving average, which settled at $13.81. In addition, Mayville Engineering Company Inc saw 4.02% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MEC starting from Reddy Jagadeesh A, who purchase 1,560 shares at the price of $12.85 back on Mar 15 ’24. After this action, Reddy Jagadeesh A now owns 1,560 shares of Mayville Engineering Company Inc, valued at $20,046 using the latest closing price.
Fisher Steven L, the Director of Mayville Engineering Company Inc, purchase 3,000 shares at $12.75 during a trade that took place back on Nov 17 ’23, which means that Fisher Steven L is holding 21,735 shares at $38,250 based on the most recent closing price.
Stock Fundamentals for MEC
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.35 for the gross margin
The net margin for Mayville Engineering Company Inc stands at 0.01. The total capital return value is set at 0.06. Equity return is now at value 3.72, with 1.80 for asset returns.
Based on Mayville Engineering Company Inc (MEC), the company’s capital structure generated 0.11 points at debt to capital in total, while cash flow to debt ratio is standing at 2.07. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is 3.81.
Currently, EBITDA for the company is 56.68 million with net debt to EBITDA at 0.63. When we switch over and look at the enterprise to sales, we see a ratio of 0.55. The receivables turnover for the company is 8.63for trailing twelve months and the total asset turnover is 1.21. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.84.
Conclusion
In conclusion, Mayville Engineering Company Inc (MEC) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
