Key Points
- Insider buying: Chris Grigg purchased 20,000 shares of Melrose Industries on June 16 at an average price of GBX 472, totaling £94,400.
- Stock remains below recent averages: Melrose shares opened at GBX 468.80, which is below both the 50-day moving average of GBX 495.35 and the 200-day moving average of GBX 553.96.
- Mixed analyst sentiment: Deutsche Bank cut its price target to GBX 570 and kept a hold rating, while the broader consensus remains a Moderate Buy with an average target of GBX 680.
Melrose Industries PLC (LON:MRO - Get Free Report) insider Chris Grigg acquired 20,000 shares of Melrose Industries stock in a transaction on Tuesday, June 16th. The shares were bought at an average price of GBX 472 per share, with a total value of £94,400.
Melrose Industries Stock Performance
MRO opened at GBX 468.80 on Wednesday. The firm's fifty day simple moving average is GBX 495.35 and its two-hundred day simple moving average is GBX 553.96. Melrose Industries PLC has a 52-week low of GBX 443.36 and a 52-week high of GBX 685. The company has a market cap of £5.84 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.48 and a beta of 0.86. The company has a quick ratio of 0.45, a current ratio of 0.98 and a debt-to-equity ratio of 67.32.
Analyst Upgrades and Downgrades
Separately, Deutsche Bank Aktiengesellschaft lowered their price objective on Melrose Industries from GBX 620 to GBX 570 and set a "hold" rating on the stock in a report 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, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 680.
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About Melrose Industries
(
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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.
Further Reading
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