Melrose Industries PLC (LON:MRO) Receives Consensus Recommendation of “Buy” from Brokerages
Melrose Industries PLC (LON:MRO) has been given an average recommendation of “Buy” by the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is GBX 252.86 ($3.28).
A number of analysts have recently commented on the company. Barclays PLC reiterated an “overweight” rating on shares of Melrose Industries PLC in a research report on Tuesday, March 21st. J P Morgan Chase & Co dropped their price target on Melrose Industries PLC from GBX 250 ($3.24) to GBX 230 ($2.98) and set an “overweight” rating on the stock in a research report on Friday, April 7th. Liberum Capital reiterated a “buy” rating and set a GBX 260 ($3.37) target price on shares of Melrose Industries PLC in a research report on Thursday, May 11th. Beaufort Securities reiterated a “buy” rating on shares of Melrose Industries PLC in a research report on Friday, May 12th. Finally, Panmure Gordon reissued a “buy” rating and set a GBX 355 ($4.60) price target on shares of Melrose Industries PLC in a research note on Tuesday, April 25th.
In related news, insider David Alexander Roper sold 2,000,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of GBX 255 ($3.30), for a total value of £5,100,000 ($6,606,217.62).
Shares of Melrose Industries PLC (LON MRO) traded down 0.21% during midday trading on Friday, hitting GBX 237.70. The company’s stock had a trading volume of 2,892,286 shares. Melrose Industries PLC has a 12-month low of GBX 76.28 and a 12-month high of GBX 261.90. The firm’s market cap is GBX 4.48 billion. The firm has a 50-day moving average of GBX 242.52 and a 200 day moving average of GBX 221.46.
About Melrose Industries PLC
Melrose Industries PLC is a United Kingdom-based company, which is engaged in buying manufacturing businesses. The Company operates through an Energy segment, which includes the Brush business that is a specialist supplier of energy industrial products to the global market. The Company’s Brush Turbogenerators is an independent manufacturer of electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors, and also supplies switchgear, transformers and other power infrastructure equipment.
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