Melrose Industries PLC (MRO) Receives Consensus Recommendation of “Buy” from Analysts
Melrose Industries PLC (LON:MRO) has been given an average rating of “Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is GBX 260.91 ($3.52).
Several research firms have weighed in on MRO. J P Morgan Chase & Co decreased their price target on shares of Melrose Industries PLC from GBX 250 ($3.37) to GBX 230 ($3.10) and set an “overweight” rating for the company in a research note on Tuesday, July 4th. BNP Paribas downgraded shares of Melrose Industries PLC to a “neutral” rating and set a GBX 250 ($3.37) price target for the company. in a research note on Tuesday, July 18th. Barclays PLC reaffirmed an “overweight” rating and issued a GBX 255 ($3.44) price target on shares of Melrose Industries PLC in a research note on Thursday, August 17th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Melrose Industries PLC in a research note on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Melrose Industries PLC in a research note on Wednesday, August 2nd. They issued a “buy” rating and a GBX 270 ($3.64) price target for the company.
Melrose Industries PLC (LON MRO) traded down 0.88% during trading on Wednesday, reaching GBX 203.50. The company’s stock had a trading volume of 3,967,569 shares. The company’s market cap is GBX 3.86 billion. The stock’s 50-day moving average is GBX 223.69 and its 200 day moving average is GBX 232.74. Melrose Industries PLC has a 12 month low of GBX 162.00 and a 12 month high of GBX 261.90.
The firm also recently announced a dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, September 7th will be given a dividend of GBX 1.40 ($0.02) per share. This represents a dividend yield of 0.64%. The ex-dividend date is Thursday, September 7th.
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In other news, insider David Alexander Roper sold 2,000,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of GBX 255 ($3.44), for a total transaction of £5,100,000 ($6,876,095.46).
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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