Melrose Industries (LON:MRO) Stock Price Down 11.3% – Here’s Why

Melrose Industries PLC (LON:MRO) shares fell 11.3% during mid-day trading on Thursday . The company 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).

Wall Street Analysts Forecast Growth

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

Melrose Industries Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The stock’s 50-day moving average price is GBX 597.55 and its 200 day moving average price is GBX 531.47. The firm has a market cap 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.

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 (EPS) for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. Equities research analysts predict that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction 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). 1.00% of the stock is currently owned by corporate insiders.

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.