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

Melrose Industries PLC (LON:MRO)’s share price was down 11.3% 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 mid-day 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).

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 report 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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 50 day simple moving average of GBX 597.55 and a 200 day simple moving average of GBX 531.47. The company 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 earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. As a group, analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the business’s 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). 1.00% of the stock is currently owned by insiders.

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.