Melrose Industries (LON:MRO) Hits New 52-Week Low – Here’s Why

Shares of Melrose Industries PLC (LON:MRO) reached a new 52-week low during trading on Wednesday . The stock traded as low as GBX 445.30 and last traded at GBX 452.94, with a volume of 3156688 shares trading hands. The stock had previously closed at GBX 460.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut their target price on shares of Melrose Industries from GBX 620 to GBX 570 and set a “hold” rating for the company in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 680.

Melrose Industries Price Performance

The stock’s fifty day moving average price is GBX 503.35 and its 200-day moving average price is GBX 561.60. 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 firm has a market cap of £5.79 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.48 and a beta of 0.87.

Insider Activity

In other news, insider Matthew Gregory purchased 46,702 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were acquired at an average price of GBX 502 per share, for a total transaction of £234,444.04. Also, insider Ian Barkshire purchased 15,700 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average price of GBX 481 per share, for a total transaction of £75,517. Insiders have bought 82,402 shares of company stock worth $40,516,104 over the last 90 days. 2.56% of the stock is owned by company 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.