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

Melrose Industries PLC (LON:MRO) was down 11.7% during trading on Saturday . The stock 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 mid-day 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 Ratings Changes

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.99) price objective 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Price Performance

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 fifty day simple moving average of GBX 597.55 and a two-hundred day simple moving average of GBX 531.47. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03.

Melrose Industries (LON:MRO) last issued 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 net margin of 1.13% and a negative return on equity of 1.18%. On average, equities research analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David Lis sold 7,950 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). Company 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.