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

Melrose Industries PLC (LON:MRO)’s stock price traded down 16.5% during mid-day trading on Thursday . The company traded as low as GBX 563 ($7.28) and last traded at GBX 567.80 ($7.34). 50,016,828 shares were traded during trading, an increase of 393% from the average session volume of 10,147,989 shares. The stock had previously closed at GBX 680 ($8.79).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.99) target price 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. According to data from MarketBeat, Melrose Industries currently has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Down 11.7 %

The business’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 market cap of £6.35 billion, a price-to-earnings ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO) last released 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 net margin of 1.13% and a negative return on equity of 1.18%. Sell-side analysts expect 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 Melrose Industries stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). 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.