Melrose Industries (LON:MRO) Trading Down 11.7% – Time to Sell?

Melrose Industries PLC (LON:MRO)’s stock price dropped 11.7% during mid-day trading on Saturday . The stock traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). Approximately 18,429,754 shares were traded 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).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated an “overweight” rating and issued 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.27).

Melrose Industries Stock Down 11.7 %

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 firm has a 50 day simple moving average of GBX 597.55 and a 200-day simple moving average of GBX 531.47. The stock has a market cap of £6.35 billion, a P/E 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 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%. On average, equities research analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Transactions at Melrose Industries

In other 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 ($7.31), for a total transaction of £44,997 ($58,143.17). 1.00% of the stock is owned by corporate 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.