Melrose Industries (LON:MRO) Hits New 52-Week High – Still a Buy?

Melrose Industries PLC (LON:MRO) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 682.60 ($8.80) and last traded at GBX 675.84 ($8.71), with a volume of 4146396 shares changing hands. The stock had previously closed at GBX 642 ($8.27).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.95) 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.25).

Melrose Industries Trading Down 11.7 %

The firm’s 50-day simple moving average is GBX 597.55 and its 200 day simple moving average is GBX 531.47. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a P/E/G 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) EPS for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. Equities analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

In other news, insider David Lis sold 7,950 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.29), for a total value of £44,997 ($57,985.82). 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.