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

Melrose Industries PLC (LON:MRO)’s stock price traded down 11.3% on Thursday . The company traded as low as GBX 556.40 ($7.17) and last traded at GBX 603 ($7.77). 16,228,400 shares were traded during trading, an increase of 72% from the average session volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.77).

Analyst Upgrades and Downgrades

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

Melrose Industries Stock Performance

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

Melrose Industries (LON:MRO) last issued its earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (EPS) for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. Equities research 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 firm’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 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.