JPMorgan Chase & Co. Reaffirms Overweight Rating for Melrose Industries (LON:MRO)

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Melrose Industries (LON:MRO) in a research note released on Tuesday, MarketBeat reports. JPMorgan Chase & Co. currently has a GBX 850 ($10.60) target price on the stock.

Separately, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Melrose Industries from GBX 675 ($8.42) to GBX 560 ($6.99) and set a “hold” rating for the company in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($7.98).

Melrose Industries Price Performance

Shares of LON MRO opened at GBX 559.80 ($6.98) on Tuesday. The stock has a market cap of £7.22 billion, a P/E ratio of -18,660.00, a P/E/G ratio of 0.48 and a beta of 1.51. Melrose Industries has a twelve month low of GBX 413.58 ($5.16) and a twelve month high of GBX 681.20 ($8.50). The stock has a 50 day moving average of GBX 533.03 and a two-hundred day moving average of GBX 517.95. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03.

Insiders Place Their Bets

In other news, insider David Lis sold 7,950 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.06), for a total value of £44,997 ($56,133.98). Also, insider Ian Barkshire purchased 17,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were purchased at an average price of GBX 442 ($5.51) per share, for a total transaction of £75,140 ($93,737.52). 1.00% of the stock is owned by 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.