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

Shares of Melrose Industries PLC (LON:MRO) fell 11.3% during mid-day trading on Thursday . The stock traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). 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 ($8.79).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.99) price target on shares of Melrose Industries in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Melrose Industries presently has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The business has a fifty day moving average price of GBX 597.55 and a 200-day moving average price of GBX 531.47. The company has a market cap of £6.35 billion, a P/E ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last announced 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%. On average, analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

In related news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction that occurred 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). 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.