Melrose Industries (LON:MRO) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from GBX 280 ($3.66) to GBX 285 ($3.72) in a research note issued to investors on Thursday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 73.67% from the stock’s previous close.
A number of other research firms have also recently commented on MRO. UBS Group raised their target price on shares of Melrose Industries from GBX 250 ($3.27) to GBX 270 ($3.53) and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Liberum Capital raised their target price on shares of Melrose Industries to GBX 240 ($3.14) and gave the stock a “buy” rating in a research note on Monday, July 2nd. Peel Hunt restated a “buy” rating and set a GBX 240 ($3.14) target price on shares of Melrose Industries in a research note on Monday, June 25th. Barclays lifted their price objective on shares of Melrose Industries to GBX 260 ($3.40) and gave the company an “overweight” rating in a research report on Monday, September 10th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Melrose Industries in a research report on Friday, August 17th. Nine research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of GBX 266.11 ($3.48).
LON MRO opened at GBX 164.10 ($2.14) on Thursday. Melrose Industries has a 12 month low of GBX 2.13 ($0.03) and a 12 month high of GBX 261.90 ($3.42).
Melrose Industries (LON:MRO) last released its earnings results on Thursday, September 6th. The company reported GBX 5.80 ($0.08) EPS for the quarter, topping analysts’ consensus estimates of GBX 4.40 ($0.06) by GBX 1.40 ($0.02). Melrose Industries had a negative net margin of 4.58% and a negative return on equity of 4.75%.
In other Melrose Industries news, insider Justin Dowley bought 9,531 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was purchased at an average cost of GBX 174 ($2.27) per share, with a total value of £16,583.94 ($21,669.85). Also, insider Charlotte Twyning bought 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was acquired at an average cost of GBX 197 ($2.57) per share, with a total value of £70,920 ($92,669.54).
Melrose Industries Company Profile
Melrose Industries PLC, together with its subsidiaries, designs and manufactures electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors in the United Kingdom, Europe, North America, and internationally. It operates through four segments: Energy, Air Management, Security & Smart Technology, and Ergonomics.
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