Melrose Industries (LON:MRO) Receives Outperform Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “outperform” rating on Melrose Industries and maintained an 800 pence price target, implying 70.68% upside from the previous close.
• Melrose shares opened at 468.70 pence, with the stock trading below its 200-day moving average of 528.10 pence and within a 12-month range of 409.90 to 685 pence.
• Insiders purchased 63,101 shares worth approximately £29.4 million in the last quarter, including purchases by Guy Hachey and Chris Grigg; insiders own 2.59% of the company.

Melrose Industries (LON:MRO - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Royal Bank Of Canada in a note issued to investors on Friday,London Stock Exchange reports. They currently have a GBX 800 price objective on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 70.68% from the company's previous close.

Melrose Industries Price Performance

Shares of MRO stock opened at GBX 468.70 on Friday. The business has a fifty day simple moving average of GBX 471.46 and a 200 day simple moving average of GBX 528.10. The company has a market cap of £5.84 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.48 and a beta of 0.84. The company has a quick ratio of 0.45, a current ratio of 1.07 and a debt-to-equity ratio of 71.81. Melrose Industries has a twelve month low of GBX 409.90 and a twelve month high of GBX 685.

Melrose Industries (LON:MRO - Get Free Report) last released its earnings results on Friday, July 31st. The company reported GBX 17.80 earnings per share (EPS) for the quarter. Melrose Industries had a return on equity of 5.63% and a net margin of 4.28%. On average, sell-side analysts forecast that Melrose Industries will post 33.9741641 EPS for the current fiscal year.

Insider Activity at Melrose Industries

In related news, insider Guy Hachey bought 18,000 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of GBX 449 per share, with a total value of £80,820. Also, insider Chris Grigg purchased 20,000 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average price of GBX 472 per share, with a total value of £94,400. Insiders purchased a total of 63,101 shares of company stock valued at $29,444,975 in the last quarter. Insiders own 2.59% of the company's stock.

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.

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