Melrose Industries (LON:MRO) Trading Down 11.7% – Time to Sell?

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.98) target price on shares of Melrose Industries in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($8.27).

Melrose Industries Stock Down 11.7 %

The company 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. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The firm’s fifty day moving average price is GBX 596.44 and its 200-day moving average price is GBX 531.51.

Melrose Industries (LON:MRO) last announced 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 net margin of 1.13% and a negative return on equity of 1.18%. Sell-side 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 the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.31), for a total transaction of £44,997 ($58,143.17). 1.00% of the stock is currently owned by 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.