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

Shares of Melrose Industries PLC (LON:MRO) were down 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). Approximately 18,429,754 shares changed hands during mid-day trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Melrose Industries currently has a consensus rating of “Moderate Buy” and an average target price of GBX 640 ($8.27).

Melrose Industries Trading Down 11.7 %

The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The company has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51. The business has a 50 day moving average price of GBX 597.55 and a 200 day moving average price of GBX 531.47.

Melrose Industries (LON:MRO) last posted 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%. Analysts anticipate that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Buying and Selling

In related 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). 1.00% of the stock is owned by company insiders.

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.