Melrose Industries (LON:MRO) Stock Price Down 14.4% – Here’s Why

Melrose Industries PLC (LON:MRO) fell 14.4% on Thursday . The company traded as low as GBX 577.40 ($7.44) and last traded at GBX 582.17 ($7.50). 48,573,266 shares traded hands during mid-day trading, an increase of 380% from the average session volume of 10,116,607 shares. The stock had previously closed at GBX 680 ($8.77).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.96) price objective 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.25).

Melrose Industries Price Performance

The stock has a market capitalization of £7.52 billion, a PE ratio of -196.89, a PEG ratio of 0.48 and a beta of 1.51. The firm’s fifty day moving average price is GBX 593.91 and its two-hundred day moving average price is GBX 529.46. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

Melrose Industries (LON:MRO) last announced 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 net margin of 1.13% and a negative return on equity of 1.18%. On average, equities analysts predict that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Buying and Selling at Melrose Industries

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 shares were sold at an average price of GBX 566 ($7.30), for a total transaction of £44,997 ($58,000.77). 1.00% of the stock is owned by corporate insiders.

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.