Melrose Industries (LON:MRO) Stock Price Down 11.3% – What’s Next?

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).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s 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 Stock Performance

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 stock has a market cap 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. The firm’s 50-day moving average is GBX 597.55 and its two-hundred day moving average is GBX 531.47.

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%. As a group, research analysts expect that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Buying and Selling at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.32), for a total transaction 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.