Melrose Industries (LON:MRO) Price Target Lowered to GBX 215 at JPMorgan Chase & Co.

Melrose Industries (LON:MROGet Rating) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from GBX 240 ($3.00) to GBX 215 ($2.69) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 88.43% from the stock’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 220 ($2.75) price target on shares of Melrose Industries in a report on Wednesday, April 13th. Barclays reaffirmed an “overweight” rating and set a GBX 205 ($2.56) price target on shares of Melrose Industries in a report on Tuesday, March 15th. Finally, Citigroup reaffirmed a “buy” rating and set a GBX 200 ($2.50) price target on shares of Melrose Industries in a report on Wednesday, April 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 227.63 ($2.84).

Shares of LON MRO opened at GBX 114.10 ($1.43) on Wednesday. The company has a market capitalization of £4.99 billion and a price-to-earnings ratio of 6.46. The company has a debt-to-equity ratio of 24.09, a current ratio of 0.83 and a quick ratio of 0.52. The business has a 50-day moving average of GBX 125.18 and a two-hundred day moving average of GBX 146.47. Melrose Industries has a 1 year low of GBX 108 ($1.35) and a 1 year high of GBX 197.89 ($2.47).

In related news, insider Heather Lawrence purchased 22,500 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were purchased at an average price of GBX 116 ($1.45) per share, for a total transaction of £26,100 ($32,604.62). Also, insider Charlotte Twyning purchased 16,596 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The stock was bought at an average price of GBX 120 ($1.50) per share, for a total transaction of £19,915.20 ($24,878.45). Insiders bought a total of 74,096 shares of company stock valued at $9,256,520 over the last three months.

About Melrose Industries (Get Rating)

Melrose Industries PLC engages in the aerospace, automotive, powder metallurgy, and other industrial businesses in the United Kingdom, rest of Europe, North America, and internationally. Its Aerospace segment provides airframe and engine structures, and electrical interconnection systems for the aerospace industry in civil airframe and defense platforms.

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