Barclays PLC Reaffirms Overweight Rating for Melrose Industries PLC (MRO)
Melrose Industries PLC (LON:MRO)‘s stock had its “overweight” rating reaffirmed by Barclays PLC in a report released on Thursday. They currently have a GBX 255 ($3.31) price target on the stock. Barclays PLC’s price objective would suggest a potential upside of 10.73% from the company’s current price.
A number of other research firms also recently weighed in on MRO. Beaufort Securities reissued a “buy” rating on shares of Melrose Industries PLC in a report on Friday, May 12th. J P Morgan Chase & Co dropped their target price on Melrose Industries PLC from GBX 250 ($3.25) to GBX 230 ($2.99) and set an “overweight” rating for the company in a report on Tuesday, July 4th. BNP Paribas downgraded Melrose Industries PLC to a “neutral” rating and set a GBX 250 ($3.25) target price for the company. in a report on Tuesday, July 18th. Liberum Capital reissued a “buy” rating and set a GBX 260 ($3.38) target price on shares of Melrose Industries PLC in a report on Thursday, May 11th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Melrose Industries PLC in a report on Monday, July 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of GBX 255 ($3.31).
Shares of Melrose Industries PLC (LON:MRO) traded down 1.50% during trading on Thursday, reaching GBX 230.30. 3,378,696 shares of the company were exchanged. The stock’s market capitalization is GBX 4.47 billion. The company has a 50 day moving average price of GBX 235.04 and a 200-day moving average price of GBX 231.26. Melrose Industries PLC has a one year low of GBX 136.50 and a one year high of GBX 261.90.
In related news, insider David Alexander Roper sold 2,000,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of GBX 255 ($3.31), for a total value of £5,100,000 ($6,620,797.09).
Melrose Industries PLC Company Profile
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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