Melrose Industries (LON:MRO) Shares Down 18.2% – Time to Sell?

Shares of Melrose Industries PLC (LON:MRO) were down 18.2% during trading on Thursday . The stock traded as low as GBX 556.40 ($7.17) and last traded at GBX 556.40 ($7.17). Approximately 16,050,553 shares changed hands during trading, an increase of 71% from the average daily volume of 9,409,593 shares. The stock had previously closed at GBX 680 ($8.77).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.96) price objective on shares of Melrose Industries in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 640 ($8.25).

Melrose Industries Price Performance

The company has a market capitalization of £7.79 billion, a PE ratio of -203.94, a P/E/G ratio of 0.48 and a beta of 1.51. The stock has a 50 day moving average price of GBX 593.91 and a two-hundred day moving average price of GBX 529.46. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO) last announced its quarterly earnings results on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. Equities analysts forecast that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

In other Melrose Industries 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 ($7.30), for a total value of £44,997 ($58,000.77). 1.00% of the stock is owned by company 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.