Melrose Industries (LON:MRO) Stock Price Down 14.6% – Here’s What Happened

Melrose Industries PLC (LON:MRO) shares traded down 14.6% during mid-day trading on Thursday . The stock traded as low as GBX 577.40 ($7.46) and last traded at GBX 581 ($7.51). 49,456,539 shares changed hands during mid-day trading, an increase of 388% from the average session volume of 10,135,810 shares. The stock had previously closed at GBX 680 ($8.79).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.99) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Performance

The firm’s 50-day moving average price is GBX 597.55 and its two-hundred day moving average price is GBX 531.47. The firm has a market capitalization of £6.35 billion, a PE ratio of -166.14, a P/E/G 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 released 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%. As a group, research analysts predict that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Activity 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 ($7.32), for a total transaction of £44,997 ($58,158.20). 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.