Melrose Industries (LON:MRO) Shares Down 5.4% – Here’s What Happened

Melrose Industries PLC (LON:MRO) shares traded down 5.4% during mid-day trading on Tuesday . The company traded as low as GBX 472.20 and last traded at GBX 482.20. Approximately 13,264,478 shares were traded during trading, a decline of 62% from the average session volume of 35,209,164 shares. The stock had previously closed at GBX 509.60.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Melrose Industries from GBX 620 to GBX 570 and set a “hold” rating for the company in a research report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Melrose Industries currently has a consensus rating of “Moderate Buy” and an average target price of GBX 680.

Melrose Industries Stock Performance

The business has a fifty day simple moving average of GBX 508.11 and a two-hundred day simple moving average of GBX 569.31. The company has a debt-to-equity ratio of 67.32, a current ratio of 0.98 and a quick ratio of 0.45. The company has a market cap of £6.02 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.48 and a beta of 0.87.

Melrose Industries (LON:MRO) last released its quarterly earnings results on Friday, February 27th. The company reported GBX 32.20 EPS for the quarter. Melrose Industries had a return on equity of 13.03% and a net margin of 10.31%. Research analysts anticipate that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

In other Melrose Industries news, insider Alison Goligher purchased 20,000 shares of Melrose Industries stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of GBX 476 per share, with a total value of £95,200. Also, insider Chris Grigg acquired 17,901 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average price of GBX 540 per share, with a total value of £96,665.40. Insiders bought 100,303 shares of company stock worth $50,182,644 in the last quarter. 2.56% of the stock is currently owned by corporate insiders.

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. The Structures segment provides civil and defence air frames, including lightweight composite and metallic structures; and electrical distribution systems and components to airframe original equipment manufacturers.