Melrose Industries (LON:MRO) Shares Down 11.3% – Here’s What Happened

Melrose Industries PLC (LON:MRO) fell 11.3% during trading on Thursday . The stock traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). 16,228,400 shares changed hands during mid-day trading, an increase of 72% from the average session volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Analysts Set New Price Targets

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

Melrose Industries Trading Down 11.7 %

The business’s 50 day moving average price is GBX 597.55 and its two-hundred day moving average price is GBX 531.47. The company has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO) last issued 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 net margin of 1.13% and a negative return on equity of 1.18%. Equities analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Transactions at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the 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 transaction of £44,997 ($58,158.20). Company insiders own 1.00% of the company’s stock.

Melrose Industries Company Profile

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.