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

Melrose Industries PLC (LON:MRO) shares fell 11.7% 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).

Analysts Set New Price Targets

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

Melrose Industries Price Performance

The company’s 50 day moving average price is GBX 597.55 and its 200-day moving average price is GBX 531.47. The company has a market capitalization of £6.35 billion, a PE ratio of -166.14, a PEG 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 announced 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%. On average, sell-side analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Melrose Industries news, insider David Lis sold 7,950 shares of the company’s stock in a transaction dated 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). 1.00% of the stock is 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.