Melrose Industries (LON:MRO) Stock Price Down 7.9% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s stock price dropped 7.9% during trading on Friday . The stock traded as low as GBX 488.80 ($6.30) and last traded at GBX 512.36 ($6.60). Approximately 15,742,509 shares were traded during trading, an increase of 65% from the average daily volume of 9,543,342 shares. The stock had previously closed at GBX 556.40 ($7.17).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.95) target price on shares of Melrose Industries in a research report on Thursday, January 23rd. Two equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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 stock’s 50 day moving average price is GBX 596.37 and its two-hundred day moving average price is GBX 530.69. The firm 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.

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%. On average, equities analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insiders Place Their Bets

In other Melrose Industries news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.29), for a total value of £44,997 ($57,985.82). 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.