Melrose Industries (LON:MRO) Price Target Cut to GBX 570 by Analysts at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank cut its price target for Melrose from GBX 620 to GBX 570 and maintained a "hold" rating, with the new target implying roughly a 15.3% upside from the current price.
• Shares traded at GBX 494.30 on Monday on unusually heavy volume, valuing Melrose at £6.19bn with a P/E of 20.09 and a 52‑week range of GBX 376–685.
• Insider purchase: Chris Grigg bought 17,901 shares at GBX 540; the company reported quarterly EPS of GBX 32.20, a net margin of 10.31%, and analysts forecast about 33.97 EPS for the year.

Melrose Industries (LON:MRO - Get Free Report) had its price objective decreased by equities research analysts at Deutsche Bank Aktiengesellschaft from GBX 620 to GBX 570 in a research report issued to clients and investors on Monday,London Stock Exchange reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 15.31% from the stock's current price.

Melrose Industries Stock Performance

LON:MRO traded up GBX 9.30 during trading hours on Monday, hitting GBX 494.30. 308,706,813 shares of the company were exchanged, compared to its average volume of 23,458,402. The stock has a market capitalization of £6.19 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.48 and a beta of 0.91. Melrose Industries has a 52-week low of GBX 376 and a 52-week high of GBX 685. The company has a debt-to-equity ratio of 77.89, a current ratio of 0.98 and a quick ratio of 0.45. The company's 50 day moving average price is GBX 602.77 and its 200-day moving average price is GBX 602.92.

Melrose Industries (LON:MRO - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The company reported GBX 32.20 earnings per share (EPS) for the quarter. Melrose Industries had a net margin of 10.31% and a return on equity of 13.03%. As a group, research analysts forecast that Melrose Industries will post 33.9741641 earnings per share for the current year.

Insider Transactions at Melrose Industries

In other news, insider Chris Grigg purchased 17,901 shares of the stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of GBX 540 per share, with a total value of £96,665.40. 2.56% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.