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

Melrose Industries PLC (LON:MRO) dropped 11.7% on Friday . The company traded as low as GBX 488.80 ($6.30) and last traded at GBX 491.24 ($6.33). Approximately 18,429,754 shares were traded during trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.17).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 850 ($10.95) price objective on shares of Melrose Industries in a research report 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. Based on data from MarketBeat.com, Melrose Industries presently has an average rating of “Moderate Buy” and an average target price of GBX 640 ($8.25).

Melrose Industries Stock Performance

The company’s fifty day simple moving average is GBX 597.55 and its two-hundred day simple moving average is GBX 531.47. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The stock 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.

Melrose Industries (LON:MRO) last announced its 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 return on equity of 1.18% and a negative net margin of 1.13%. As a group, equities analysts forecast that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Buying and Selling at Melrose Industries

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