Melrose Industries (LON:MRO) Trading Down 11.3% – Here’s Why

Melrose Industries PLC (LON:MRO) shares traded down 11.3% on Thursday . The company traded as low as GBX 556.40 ($7.17) and last traded at GBX 603 ($7.77). 16,228,400 shares traded hands during mid-day trading, an increase of 72% from the average session volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.76).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.95) price objective on shares of Melrose Industries in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Melrose Industries currently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.25).

Melrose Industries Trading Up 0.1 %

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 firm’s 50 day moving average is GBX 596.37 and its 200 day moving average is GBX 530.69. The company has a market capitalization of £7.20 billion, a PE ratio of -188.38, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last issued its earnings results 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%. As a group, equities analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Buying and Selling

In related news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.29), for a total value of £44,997 ($57,985.82). 1.00% of the stock is owned by insiders.

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.