Melrose Industries (LON:MRO) Stock Price Down 11.7% – Here’s Why

Melrose Industries PLC (LON:MRO)’s stock price was down 11.7% on Friday . 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 traded 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).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.98) target price on shares of Melrose Industries in a research report on Thursday, January 23rd.

Melrose Industries Trading Down 11.7 %

The firm has a fifty day moving average of GBX 596.44 and a two-hundred day moving average of GBX 531.51. The company has a market cap of £6.35 billion, a PE 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.

Melrose Industries (LON:MRO) last posted its 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%. As a group, sell-side analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Activity

In related news, insider David Lis sold 7,950 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). Corporate 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.