Melrose Industries (LON:MRO) Price Target Cut to GBX 560 by Analysts at Deutsche Bank Aktiengesellschaft

Melrose Industries (LON:MRO) had its target price decreased by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 675 ($8.83) to GBX 560 ($7.32) in a report issued on Friday, Digital Look reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 19.86% from the stock’s previous close.

A number of other brokerages have also commented on MRO. Morgan Stanley initiated coverage on shares of Melrose Industries in a research report on Friday, September 6th. They issued an “equal weight” rating and a GBX 500 ($6.54) price objective for the company. Royal Bank of Canada upgraded Melrose Industries to an “outperform” rating and set a GBX 650 ($8.50) target price on the stock in a report on Monday, July 8th.

Melrose Industries Stock Performance

Shares of MRO stock traded down GBX 11.70 ($0.15) during mid-day trading on Friday, reaching GBX 467.20 ($6.11). The stock had a trading volume of 1,989,057 shares, compared to its average volume of 7,013,042. The firm’s 50 day simple moving average is GBX 516.10 and its 200 day simple moving average is GBX 583.88. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The firm has a market cap of £6.03 billion, a PE ratio of -15,573.33, a P/E/G ratio of 0.50 and a beta of 1.51. Melrose Industries has a one year low of GBX 434.12 ($5.68) and a one year high of GBX 681.20 ($8.91).

Insider Buying and Selling

In other news, insider Matthew Gregory bought 9,740 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of GBX 510 ($6.67) per share, for a total transaction of £49,674 ($64,958.81). In other Melrose Industries news, insider Gillian Elcock bought 3,680 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of GBX 453 ($5.92) per share, for a total transaction of £16,670.40 ($21,799.92). Also, insider Matthew Gregory purchased 9,740 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of GBX 510 ($6.67) per share, for a total transaction of £49,674 ($64,958.81). 1.00% 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.