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

Melrose Industries PLC (LON:MRO) was down 11.3% during trading on Thursday . The stock traded as low as GBX 556.40 ($7.17) and last traded at GBX 603 ($7.77). Approximately 16,228,400 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.77).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.96) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.25).

Melrose Industries Price Performance

The company has a market cap of £7.79 billion, a PE ratio of -203.94, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The stock has a fifty day moving average price of GBX 593.91 and a 200-day moving average price of GBX 529.46.

Melrose Industries (LON:MRO) last released its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS 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 expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

In other Melrose Industries news, insider David Lis sold 7,950 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.30), for a total value of £44,997 ($58,000.77). 1.00% of the stock is currently owned by 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.