Melrose Industries (LON:MRO) Shares Down 11.3% – Should You Sell?

Melrose Industries PLC (LON:MRO)’s share price traded down 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. reissued an “overweight” rating and issued a GBX 850 ($10.99) price objective 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Performance

The stock’s fifty day moving average is GBX 597.55 and its two-hundred day moving average is GBX 531.47. The firm has a market capitalization 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 results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. Analysts forecast 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 the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total transaction of £44,997 ($58,158.20). Company 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.