Melrose Industries (LON:MRO) Trading Down 18.2% – Here’s What Happened

Melrose Industries PLC (LON:MRO) traded down 18.2% on Thursday . The company traded as low as GBX 556.40 ($7.17) and last traded at GBX 556.40 ($7.17). 16,050,553 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 9,409,593 shares. The stock had previously closed at GBX 680 ($8.77).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.96) target price on shares of Melrose Industries in a report 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, Melrose Industries has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.25).

Melrose Industries Stock Performance

The stock has a market capitalization of £7.79 billion, a P/E ratio of -203.94, a price-to-earnings-growth 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 company has a 50-day moving average price of GBX 593.91 and a two-hundred day moving average price of GBX 529.46.

Melrose Industries (LON:MRO) last issued its quarterly 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 return on equity of 1.18% and a negative net margin of 1.13%. On average, equities analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the business’s stock in a transaction dated 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 owned by corporate 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.