Melrose Industries (LON:MRO) Trading Down 11.3% – Time to Sell?

Melrose Industries PLC (LON:MRO)’s share price dropped 11.3% during trading on Thursday . The stock traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). Approximately 16,228,400 shares traded hands during trading, an increase of 72% from the average daily volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 850 ($10.98) price target on shares of Melrose Industries in a research 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. Based on data from MarketBeat.com, Melrose Industries has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

The firm has a 50-day moving average of GBX 596.44 and a 200-day moving average of GBX 531.51. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The firm has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a price-to-earnings-growth 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 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 research analysts anticipate that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Transactions at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). Corporate insiders own 1.00% of the company’s stock.

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.