Peel Hunt Reiterates “Buy” Rating for Melrose Industries PLC (MRO)
Melrose Industries PLC (LON:MRO)‘s stock had its “buy” rating reiterated by analysts at Peel Hunt in a report issued on Wednesday. They presently have a GBX 240 ($3.10) target price on the stock. Peel Hunt’s target price would indicate a potential upside of 12.94% from the company’s previous close.
A number of other research firms have also recently commented on MRO. J P Morgan Chase & Co decreased their price target on Melrose Industries PLC from GBX 250 ($3.23) to GBX 230 ($2.97) and set an “overweight” rating on the stock in a research note on Tuesday, July 4th. Beaufort Securities restated a “buy” rating on shares of Melrose Industries PLC in a research note on Friday, September 1st. Liberum Capital restated a “buy” rating and set a GBX 260 ($3.36) price target on shares of Melrose Industries PLC in a research note on Thursday, May 11th. Numis Securities Ltd restated a “buy” rating and set a GBX 290 ($3.75) price target on shares of Melrose Industries PLC in a research note on Friday, September 1st. Finally, BNP Paribas cut Melrose Industries PLC to a “neutral” rating and set a GBX 250 ($3.23) price target on the stock. in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of GBX 260.91 ($3.37).
Melrose Industries PLC (LON:MRO) traded up 0.24% on Wednesday, reaching GBX 212.50. The company’s stock had a trading volume of 5,158,639 shares. The company has a 50 day moving average of GBX 229.07 and a 200 day moving average of GBX 233.15. Melrose Industries PLC has a 52 week low of GBX 155.75 and a 52 week high of GBX 261.90. The firm’s market capitalization is GBX 4.01 billion.
Melrose Industries PLC (LON:MRO) last released its quarterly earnings results on Thursday, August 31st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Melrose Industries PLC had a negative return on equity of 4.57% and a negative net margin of 3.85%. On average, analysts forecast that Melrose Industries PLC will post $10.31 earnings per share for the current year.
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In other news, insider David Alexander Roper sold 2,000,000 shares of Melrose Industries PLC stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of GBX 255 ($3.29), for a total transaction of £5,100,000 ($6,586,594.34).
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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