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

Melrose Industries PLC (LON:MRO)’s stock price was down 11.7% during mid-day trading on Saturday . The company traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). Approximately 18,429,754 shares were traded during trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.98) price target on shares of Melrose Industries in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Price Performance

The stock’s 50 day moving average is GBX 596.44 and its two-hundred day moving average is GBX 531.51. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The stock has a market capitalization of £6.35 billion, a PE ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

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, sell-side analysts forecast 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 Melrose Industries news, insider David Lis sold 7,950 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). 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.