Mayville Engineering Company Inc (NYSE: MEC)’s stock price has soared by 5.62 in relation to previous closing price of 20.47. Nevertheless, the company has seen a gain of 8.15% in its stock price over the last five trading days. zacks.com reported 2024-09-30 that Mayville Engineering (MEC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Is It Worth Investing in Mayville Engineering Company Inc (NYSE: MEC) Right Now?
The price-to-earnings ratio for Mayville Engineering Company Inc (NYSE: MEC) is above average at 42.10x. The 36-month beta value for MEC is also noteworthy at 0.97. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MEC is 15.72M, and at present, short sellers hold a 0.95% of that float. The average trading volume of MEC on November 01, 2024 was 101.51K shares.
MEC’s Market Performance
MEC’s stock has seen a 8.15% increase for the week, with a 8.37% rise in the past month and a 29.54% gain in the past quarter. The volatility ratio for the week is 2.37%, and the volatility levels for the past 30 days are at 2.88% for Mayville Engineering Company Inc The simple moving average for the last 20 days is 5.07% for MEC’s stock, with a simple moving average of 31.89% for the last 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 8.17% 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 -2.04% of loss for the given period.
Volatility was left at 2.88%, however, over the last 30 days, the volatility rate increased by 2.37%, as shares surge +3.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.55% upper at present.
During the last 5 trading sessions, MEC rose by +3.90%, which changed the moving average for the period of 200-days by +56.99% in comparison to the 20-day moving average, which settled at $20.53. In addition, Mayville Engineering Company Inc saw 49.93% 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 Raber Ryan F, who sale 21,508 shares at the price of $19.15 back on Aug 23 ’24. After this action, Raber Ryan F now owns 97,053 shares of Mayville Engineering Company Inc, valued at $411,878 using the latest closing price.
Reddy Jagadeesh A, the President & CEO of Mayville Engineering Company Inc, purchase 1,560 shares at $12.85 during a trade that took place back on Mar 15 ’24, which means that Reddy Jagadeesh A is holding 1,560 shares at $20,046 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
- 0.12 for the gross margin
The net margin for Mayville Engineering Company Inc stands at 0.02. The total capital return value is set at 0.07. Equity return is now at value 4.61, with 2.10 for asset returns.
Based on Mayville Engineering Company Inc (MEC), the company’s capital structure generated 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.63. The debt to equity ratio resting at 0.53. The interest coverage ratio of the stock is 1.96.
Currently, EBITDA for the company is 56.68 million with net debt to EBITDA at 2.66. When we switch over and look at the enterprise to sales, we see a ratio of 0.96. The receivables turnover for the company is 9.31for trailing twelve months and the total asset turnover is 1.29. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.71.
Conclusion
In summary, Mayville Engineering Company Inc (MEC) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others 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.
