Melrose Industries (LON:MRO) Stock Price Down 16.5% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price was down 16.5% during mid-day trading on Thursday . The stock traded as low as GBX 563 ($7.26) and last traded at GBX 567.80 ($7.32). Approximately 50,016,828 shares changed hands during trading, an increase of 393% from the average daily volume of 10,147,989 shares. The stock had previously closed at GBX 680 ($8.77).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.96) price target 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 an average rating of “Moderate Buy” and an average target price of GBX 640 ($8.25).

Melrose Industries Trading Down 11.3 %

The firm has a market cap of £7.79 billion, a PE ratio of -203.94, a PEG ratio of 0.48 and a beta of 1.51. The stock’s fifty day simple moving average is GBX 593.91 and its 200-day simple moving average is GBX 529.46. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

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

Insider Activity at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.30), for a total transaction of £44,997 ($58,000.77). 1.00% of the stock is owned by company 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.