Melrose Industries (LON:MRO) Trading Down 11.7% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s stock price fell 11.7% during trading 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 were traded during 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).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reissued 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Performance

The company’s 50-day moving average is GBX 597.55 and its two-hundred day moving average is GBX 531.47. The company has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51. 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 issued 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%. Equities analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). Company 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.