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

Melrose Industries PLC (LON:MRO) dropped 11.7% 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 traded hands 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 ($7.19).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 850 ($10.98) price objective 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company 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 debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The company has a 50 day moving average of GBX 597.55 and a two-hundred day moving average of GBX 531.47. The stock has a market cap of £6.35 billion, a PE ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last announced its quarterly 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%. Sell-side analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of £44,997 ($58,143.17). 1.00% of the stock is currently owned by 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.