JPMorgan Chase & Co. Boosts Melrose Industries (LON:MRO) Price Target to GBX 750

Melrose Industries (LON:MRO) had its price objective lifted by research analysts at JPMorgan Chase & Co. from GBX 600 to GBX 750 in a research note issued on Monday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 24.58% from the company’s current price.

Several other research firms have also weighed in on MRO. Peel Hunt reaffirmed a “buy” rating and issued a GBX 750 price objective on shares of Melrose Industries in a research note on Friday, August 1st. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 650 price target on shares of Melrose Industries in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Melrose Industries from GBX 585 to GBX 620 and gave the company a “hold” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 692.50.

Melrose Industries Trading Down 3.9%

Shares of MRO opened at GBX 602 on Monday. Melrose Industries has a twelve month low of GBX 376 and a twelve month high of GBX 682.60. The firm has a market capitalization of £7.59 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 44.03. The stock’s fifty day simple moving average is GBX 616.31 and its 200 day simple moving average is GBX 555.94.

Insider Activity

In other Melrose Industries news, insider Guy Hachey acquired 27,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were bought at an average cost of GBX 611 per share, for a total transaction of £164,970. Insiders own 2.41% 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.