Melrose Industries (LON:MRO) Stock Price Down 11.3% – Here’s What Happened

Melrose Industries PLC (LON:MRO) dropped 11.3% during trading on Friday . The stock traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). Approximately 16,228,400 shares changed hands during trading, an increase of 72% from the average daily volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. restated 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.

Melrose Industries Stock Performance

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 firm’s 50 day moving average is GBX 596.44 and its 200-day moving average is GBX 531.51. The stock has a market capitalization of £6.35 billion, a price-to-earnings ratio of -166.14, a PEG ratio of 0.48 and a beta of 1.51.

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 net margin of 1.13% and a negative return on equity of 1.18%. Analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current fiscal year.

Insider Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). Company 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.