Melrose Industries (LON:MRO) Trading Down 11.8% – Here’s What Happened

Melrose Industries PLC (LON:MRO) traded down 11.8% during trading on Thursday . The stock traded as low as GBX 596 ($7.68) and last traded at GBX 600 ($7.73). 46,900,254 shares were traded during trading, an increase of 365% from the average session volume of 10,080,238 shares. The stock had previously closed at GBX 680 ($8.77).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.96) price objective 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. According to MarketBeat.com, Melrose Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.25).

Melrose Industries Stock Down 11.8 %

The company has a market capitalization of £7.75 billion, a PE ratio of -202.92, a PEG ratio of 0.48 and a beta of 1.51. 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.

Melrose Industries (LON:MRO) last posted its quarterly earnings data 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 research analysts anticipate that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insiders Place Their Bets

In other news, insider David Lis sold 7,950 shares of the company’s 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). Insiders own 1.00% of the company’s stock.

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.