Melrose Industries (LON:MRO) Shares Down 11.7% – Time to Sell?

Shares of Melrose Industries PLC (LON:MRO) were down 11.7% during mid-day trading on Friday . 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 changed hands 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 Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.99) price target 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 issued a buy rating to the stock. According to MarketBeat, Melrose Industries presently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.27).

Melrose Industries Stock Down 11.7 %

The company’s 50 day simple moving average is GBX 597.55 and its 200-day simple moving average is GBX 531.47. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. 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 data 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, analysts forecast that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction 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). 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.