Melrose Industries (LON:MRO) Reaches New 52-Week Low – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 444.30 and last traded at GBX 445.50, with a volume of 2859232 shares. The stock had previously closed at GBX 453.70.

Analyst Ratings Changes

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

Melrose Industries Stock Up 2.6%

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’s 50-day simple moving average is GBX 499.20 and its two-hundred day simple moving average is GBX 556.45. The company has a market capitalization of £5.73 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.48 and a beta of 0.86.

Insiders Place Their Bets

In related news, insider Ian Barkshire bought 15,700 shares of the stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of GBX 481 per share, for a total transaction of £75,517. Also, insider Alison Goligher bought 20,000 shares of the stock in a transaction on Thursday, April 30th. The shares were bought at an average price of GBX 476 per share, for a total transaction of £95,200. Over the last three months, insiders have purchased 82,402 shares of company stock worth $40,516,104. 2.58% 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.