Melrose Industries (LON:MRO) Stock Price Down 11.7% – What’s Next?

Melrose Industries PLC (LON:MRO)’s stock price traded down 11.7% during mid-day trading on Saturday . The stock traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). 18,429,754 shares changed hands during mid-day trading, an increase of 92% from the average session volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.99) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a fifty day simple moving average of GBX 597.55 and a two-hundred day simple moving average of GBX 531.47. The firm has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last posted its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. On average, equities research analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Lis sold 7,950 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). Company insiders own 1.00% of the company’s stock.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.