Melrose Industries (LON:MRO) Shares Down 11.7% – Here’s Why

Melrose Industries PLC (LON:MRO) fell 11.7% during trading on Saturday . The company traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). 18,429,754 shares traded hands during mid-day trading, an increase of 92% from the average session volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 850 ($10.98) price target on shares of Melrose Industries in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Melrose Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 640 ($8.27).

Melrose Industries Stock Performance

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 stock has a 50-day simple moving average of GBX 596.44 and a 200-day simple moving average of GBX 531.51. The stock 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 released its earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share (EPS) for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. Research analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Buying and Selling at Melrose Industries

In other news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction dated Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.31), for a total transaction of £44,997 ($58,143.17). Company 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.