Intrinsic value of Meritor - MTOR

Previous Close

$16.45

  Intrinsic Value

$45.69

stock screener

  Rating & Target

str. buy

+178%

Previous close

$16.45

 
Intrinsic value

$45.69

 
Up/down potential

+178%

 
Rating

str. buy

We calculate the intrinsic value of MTOR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  22.70
  20.93
  19.34
  17.90
  16.61
  15.45
  14.41
  13.47
  12.62
  11.86
  11.17
  10.55
  10.00
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
Revenue, $m
  4,107
  4,966
  5,927
  6,988
  8,149
  9,408
  10,763
  12,212
  13,753
  15,384
  17,103
  18,908
  20,799
  22,774
  24,835
  26,982
  29,216
  31,539
  33,954
  36,464
  39,072
  41,782
  44,599
  47,529
  50,576
  53,748
  57,050
  60,490
  64,074
  67,812
Variable operating expenses, $m
  3,835
  4,628
  5,515
  6,495
  7,568
  8,731
  9,982
  11,321
  12,744
  14,251
  15,797
  17,464
  19,210
  21,035
  22,939
  24,921
  26,985
  29,131
  31,361
  33,679
  36,088
  38,591
  41,193
  43,899
  46,714
  49,643
  52,693
  55,870
  59,181
  62,633
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,835
  4,628
  5,515
  6,495
  7,568
  8,731
  9,982
  11,321
  12,744
  14,251
  15,797
  17,464
  19,210
  21,035
  22,939
  24,921
  26,985
  29,131
  31,361
  33,679
  36,088
  38,591
  41,193
  43,899
  46,714
  49,643
  52,693
  55,870
  59,181
  62,633
Operating income, $m
  272
  338
  411
  492
  581
  677
  781
  891
  1,009
  1,133
  1,306
  1,444
  1,588
  1,739
  1,897
  2,061
  2,231
  2,409
  2,593
  2,785
  2,984
  3,191
  3,406
  3,630
  3,862
  4,105
  4,357
  4,620
  4,893
  5,179
EBITDA, $m
  475
  574
  685
  808
  942
  1,087
  1,244
  1,411
  1,589
  1,778
  1,977
  2,185
  2,404
  2,632
  2,870
  3,118
  3,376
  3,645
  3,924
  4,214
  4,515
  4,829
  5,154
  5,493
  5,845
  6,212
  6,593
  6,991
  7,405
  7,837
Interest expense (income), $m
  75
  121
  187
  262
  346
  439
  541
  651
  769
  896
  1,031
  1,174
  1,324
  1,482
  1,648
  1,821
  2,001
  2,189
  2,385
  2,588
  2,799
  3,019
  3,247
  3,485
  3,731
  3,988
  4,254
  4,532
  4,821
  5,122
  5,436
Earnings before tax, $m
  151
  151
  149
  146
  142
  136
  130
  122
  113
  102
  132
  120
  106
  91
  76
  59
  42
  24
  5
  -15
  -35
  -56
  -79
  -101
  -125
  -150
  -175
  -201
  -229
  -257
Tax expense, $m
  41
  41
  40
  39
  38
  37
  35
  33
  30
  28
  36
  32
  29
  25
  20
  16
  11
  6
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  110
  110
  109
  107
  104
  100
  95
  89
  82
  75
  97
  87
  77
  67
  55
  43
  31
  18
  4
  -15
  -35
  -56
  -79
  -101
  -125
  -150
  -175
  -201
  -229
  -257

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,414
  4,128
  4,927
  5,809
  6,774
  7,820
  8,947
  10,152
  11,433
  12,788
  14,217
  15,717
  17,289
  18,931
  20,644
  22,429
  24,286
  26,217
  28,225
  30,311
  32,478
  34,731
  37,073
  39,509
  42,042
  44,678
  47,423
  50,282
  53,262
  56,369
Adjusted assets (=assets-cash), $m
  3,414
  4,128
  4,927
  5,809
  6,774
  7,820
  8,947
  10,152
  11,433
  12,788
  14,217
  15,717
  17,289
  18,931
  20,644
  22,429
  24,286
  26,217
  28,225
  30,311
  32,478
  34,731
  37,073
  39,509
  42,042
  44,678
  47,423
  50,282
  53,262
  56,369
Revenue / Adjusted assets
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
  1.203
Average production assets, $m
  805
  973
  1,162
  1,370
  1,597
  1,844
  2,110
  2,394
  2,696
  3,015
  3,352
  3,706
  4,077
  4,464
  4,868
  5,288
  5,726
  6,182
  6,655
  7,147
  7,658
  8,189
  8,741
  9,316
  9,913
  10,535
  11,182
  11,856
  12,559
  13,291
Working capital, $m
  386
  467
  557
  657
  766
  884
  1,012
  1,148
  1,293
  1,446
  1,608
  1,777
  1,955
  2,141
  2,335
  2,536
  2,746
  2,965
  3,192
  3,428
  3,673
  3,927
  4,192
  4,468
  4,754
  5,052
  5,363
  5,686
  6,023
  6,374
Total debt, $m
  1,596
  2,239
  2,958
  3,752
  4,620
  5,562
  6,576
  7,660
  8,813
  10,033
  11,319
  12,670
  14,084
  15,562
  17,104
  18,710
  20,381
  22,119
  23,926
  25,804
  27,755
  29,782
  31,890
  34,082
  36,362
  38,734
  41,205
  43,778
  46,460
  49,256
Total liabilities, $m
  3,072
  3,715
  4,434
  5,228
  6,096
  7,038
  8,052
  9,136
  10,289
  11,509
  12,795
  14,146
  15,560
  17,038
  18,580
  20,186
  21,857
  23,595
  25,402
  27,280
  29,231
  31,258
  33,366
  35,558
  37,838
  40,210
  42,681
  45,254
  47,936
  50,732
Total equity, $m
  341
  413
  493
  581
  677
  782
  895
  1,015
  1,143
  1,279
  1,422
  1,572
  1,729
  1,893
  2,064
  2,243
  2,429
  2,622
  2,822
  3,031
  3,248
  3,473
  3,707
  3,951
  4,204
  4,468
  4,742
  5,028
  5,326
  5,637
Total liabilities and equity, $m
  3,413
  4,128
  4,927
  5,809
  6,773
  7,820
  8,947
  10,151
  11,432
  12,788
  14,217
  15,718
  17,289
  18,931
  20,644
  22,429
  24,286
  26,217
  28,224
  30,311
  32,479
  34,731
  37,073
  39,509
  42,042
  44,678
  47,423
  50,282
  53,262
  56,369
Debt-to-equity ratio
  4.680
  5.420
  6.000
  6.460
  6.820
  7.110
  7.350
  7.550
  7.710
  7.850
  7.960
  8.060
  8.150
  8.220
  8.290
  8.340
  8.390
  8.440
  8.480
  8.510
  8.550
  8.580
  8.600
  8.630
  8.650
  8.670
  8.690
  8.710
  8.720
  8.740
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  110
  110
  109
  107
  104
  100
  95
  89
  82
  75
  97
  87
  77
  67
  55
  43
  31
  18
  4
  -15
  -35
  -56
  -79
  -101
  -125
  -150
  -175
  -201
  -229
  -257
Depreciation, amort., depletion, $m
  202
  236
  274
  315
  361
  410
  463
  520
  581
  644
  670
  741
  815
  893
  974
  1,058
  1,145
  1,236
  1,331
  1,429
  1,532
  1,638
  1,748
  1,863
  1,983
  2,107
  2,236
  2,371
  2,512
  2,658
Funds from operations, $m
  312
  346
  383
  422
  464
  510
  558
  609
  663
  719
  767
  829
  893
  959
  1,029
  1,101
  1,176
  1,254
  1,335
  1,415
  1,496
  1,581
  1,670
  1,762
  1,858
  1,957
  2,061
  2,170
  2,283
  2,401
Change in working capital, $m
  71
  81
  90
  100
  109
  118
  127
  136
  145
  153
  162
  170
  178
  186
  194
  202
  210
  218
  227
  236
  245
  255
  265
  275
  286
  298
  310
  323
  337
  351
Cash from operations, $m
  241
  266
  292
  322
  355
  391
  431
  473
  518
  566
  605
  659
  715
  774
  835
  899
  966
  1,035
  1,108
  1,179
  1,251
  1,327
  1,405
  1,486
  1,571
  1,659
  1,751
  1,846
  1,946
  2,050
Maintenance CAPEX, $m
  -132
  -161
  -195
  -232
  -274
  -319
  -369
  -422
  -479
  -539
  -603
  -670
  -741
  -815
  -893
  -974
  -1,058
  -1,145
  -1,236
  -1,331
  -1,429
  -1,532
  -1,638
  -1,748
  -1,863
  -1,983
  -2,107
  -2,236
  -2,371
  -2,512
New CAPEX, $m
  -147
  -168
  -188
  -208
  -228
  -247
  -266
  -284
  -302
  -320
  -337
  -354
  -371
  -387
  -404
  -421
  -438
  -455
  -473
  -492
  -511
  -531
  -552
  -574
  -597
  -622
  -647
  -674
  -703
  -733
Cash from investing activities, $m
  -279
  -329
  -383
  -440
  -502
  -566
  -635
  -706
  -781
  -859
  -940
  -1,024
  -1,112
  -1,202
  -1,297
  -1,395
  -1,496
  -1,600
  -1,709
  -1,823
  -1,940
  -2,063
  -2,190
  -2,322
  -2,460
  -2,605
  -2,754
  -2,910
  -3,074
  -3,245
Free cash flow, $m
  -38
  -64
  -91
  -118
  -146
  -175
  -204
  -233
  -263
  -293
  -335
  -365
  -397
  -429
  -461
  -495
  -530
  -565
  -602
  -644
  -689
  -736
  -785
  -836
  -889
  -945
  -1,003
  -1,064
  -1,128
  -1,195
Issuance/(repayment) of debt, $m
  558
  643
  718
  794
  868
  942
  1,014
  1,084
  1,153
  1,220
  1,286
  1,350
  1,414
  1,478
  1,542
  1,606
  1,671
  1,738
  1,807
  1,877
  1,951
  2,028
  2,108
  2,192
  2,280
  2,373
  2,470
  2,573
  2,682
  2,796
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  5
  18
  32
  46
  61
  46
  63
  80
  97
  116
  135
  155
  176
  197
  223
  252
  282
  313
  345
  378
  413
  450
  487
  527
  568
Cash from financing (excl. dividends), $m  
  558
  643
  718
  794
  868
  947
  1,032
  1,116
  1,199
  1,281
  1,332
  1,413
  1,494
  1,575
  1,658
  1,741
  1,826
  1,914
  2,004
  2,100
  2,203
  2,310
  2,421
  2,537
  2,658
  2,786
  2,920
  3,060
  3,209
  3,364
Total cash flow (excl. dividends), $m
  521
  579
  628
  676
  722
  772
  828
  883
  936
  988
  998
  1,048
  1,097
  1,147
  1,196
  1,246
  1,297
  1,349
  1,402
  1,457
  1,514
  1,573
  1,635
  1,701
  1,769
  1,841
  1,917
  1,997
  2,081
  2,170
Retained Cash Flow (-), $m
  -73
  -71
  -80
  -88
  -96
  -105
  -113
  -120
  -128
  -136
  -143
  -150
  -157
  -164
  -171
  -178
  -186
  -193
  -201
  -223
  -252
  -282
  -313
  -345
  -378
  -413
  -450
  -487
  -527
  -568
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  447
  508
  548
  588
  626
  668
  715
  762
  808
  852
  855
  898
  940
  983
  1,025
  1,068
  1,111
  1,155
  1,201
  1,233
  1,262
  1,291
  1,323
  1,356
  1,391
  1,428
  1,467
  1,509
  1,554
  1,602
Discount rate, %
  10.00
  10.50
  11.03
  11.58
  12.16
  12.76
  13.40
  14.07
  14.77
  15.51
  16.29
  17.10
  17.96
  18.86
  19.80
  20.79
  21.83
  22.92
  24.07
  25.27
  26.53
  27.86
  29.25
  30.72
  32.25
  33.86
  35.56
  37.33
  39.20
  41.16
PV of cash for distribution, $m
  406
  416
  400
  379
  353
  325
  297
  266
  234
  202
  163
  135
  110
  88
  68
  52
  39
  28
  20
  14
  9
  6
  4
  2
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  99.9
  99.4
  98.8
  97.9
  97.0
  96.3
  95.5
  94.6
  93.6
  92.6
  91.4
  90.3
  89.0
  87.8
  86.5
  85.2
  83.8
  82.4
  81.0
  79.6
  78.1
  76.7
  75.2
  73.7
  72.3

Meritor, Inc. is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company's segments include Commercial Truck & Industrial and Aftermarket & Trailer. The Commercial Truck & Industrial segment supplies drivetrain systems and components, including axles, drivelines and braking and suspension systems, for medium- and heavy-duty trucks, off-highway, military, construction, bus and coach, fire and emergency and other applications in North America, South America, Europe and Asia Pacific. The Commercial Truck & Industrial segment also includes the Company's aftermarket businesses in Asia Pacific and South America. The Aftermarket & Trailer segment supplies axles, brakes, drivelines, suspension parts and other replacement and remanufactured parts to commercial vehicle aftermarket customers in North America and Europe.

FINANCIAL RATIOS  of  Meritor (MTOR)

Valuation Ratios
P/E Ratio 4.5
Price to Sales 0.4
Price to Book 5.4
Price to Tangible Book
Price to Cash Flow 8.3
Price to Free Cash Flow 18
Growth Rates
Sales Growth Rate 4.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 2.2%
Cap. Spend. - 3 Yr. Gr. Rate 4.3%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 277.8%
Total Debt to Equity 384.4%
Interest Coverage 6
Management Effectiveness
Return On Assets 14.7%
Ret/ On Assets - 3 Yr. Avg. 18.6%
Return On Total Capital 31%
Ret/ On T. Cap. - 3 Yr. Avg. 49%
Return On Equity 1098.3%
Return On Equity - 3 Yr. Avg. 319.5%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 14.5%
Gross Margin - 3 Yr. Avg. 13.8%
EBITDA Margin 15.9%
EBITDA Margin - 3 Yr. Avg. 10.2%
Operating Margin 5.6%
Oper. Margin - 3 Yr. Avg. 5.2%
Pre-Tax Margin 11.4%
Pre-Tax Margin - 3 Yr. Avg. 6%
Net Profit Margin 9.7%
Net Profit Margin - 3 Yr. Avg. 9.8%
Effective Tax Rate 13.6%
Eff/ Tax Rate - 3 Yr. Avg. -86.1%
Payout Ratio 0%

MTOR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MTOR stock intrinsic value calculation we used $3347 million for the last fiscal year's total revenue generated by Meritor. The default revenue input number comes from 0001 income statement of Meritor. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MTOR stock valuation model: a) initial revenue growth rate of 22.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10%, whose default value for MTOR is calculated based on our internal credit rating of Meritor, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Meritor.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MTOR stock the variable cost ratio is equal to 93.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MTOR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 11.7% for Meritor.

Corporate tax rate of 27% is the nominal tax rate for Meritor. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MTOR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MTOR are equal to 19.6%.

Life of production assets of 0 years is the average useful life of capital assets used in Meritor operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MTOR is equal to 9.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $268 million for Meritor - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 86.483 million for Meritor is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Meritor at the current share price and the inputted number of shares is $1.4 billion.

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COMPANY NEWS

▶ Meritor: Fiscal 4Q Earnings Snapshot   [07:18AM  Associated Press]
▶ Meritor to Host Analyst Day in New York on Dec. 6   [Nov-01-18 04:30PM  PR Newswire]
▶ Meritor Launches New Company Website   [Aug-30-18 04:35PM  PR Newswire]
▶ Should You Worry About Meritor Incs (NYSE:MTOR) CEO Pay Check?   [Aug-24-18 02:44PM  Simply Wall St.]
▶ New Strong Buy Stocks for August 8th   [Aug-08-18 11:22AM  Zacks]
▶ Meritor: Fiscal 3Q Earnings Snapshot   [07:04AM  Associated Press]
▶ Automotive Equipment Industry Pins Hope on Best 4 Stocks   [Jul-19-18 10:12AM  InvestorPlace]
▶ New Strong Buy Stocks for July 11th   [Jul-11-18 09:47AM  Zacks]
▶ Meritor Appoints Chief Technology Officer   [Jun-22-18 08:00AM  PR Newswire]
▶ 5 Value Stocks for Market-Beating Returns   [Jun-20-18 01:25PM  InvestorPlace]
▶ Play 5 Top-Ranked Stocks With Rising P/E   [Jun-13-18 07:59AM  Zacks]
▶ Add 5 Stocks With Rising P/E to Your Portfolio   [May-29-18 07:28AM  Zacks]
▶ New Strong Buy Stocks for May 8th   [May-08-18 08:00AM  Zacks]
▶ Meritor: Fiscal 2Q Earnings Snapshot   [08:06AM  Associated Press]
▶ Meritor Q2 Earnings Preview   [May-02-18 03:31PM  Benzinga]
▶ Meritor Acquires AA Gear & Manufacturing   [Apr-30-18 04:45PM  PR Newswire]
▶ Top NYSE Companies To Buy For Cheap   [Apr-24-18 10:02AM  Simply Wall St.]
▶ U.S. Auto Sales Rev Up in March: 5 Solid Picks   [Apr-04-18 09:23AM  Zacks]
▶ Time to Get Greedy With Trucking Stocks?   [Mar-19-18 07:16AM  Motley Fool]
▶ Meritor Announces Executive Appointments   [Mar-12-18 04:15PM  PR Newswire]

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