Melrose Industries (LON:MRO) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from GBX 285 ($3.72) to GBX 245 ($3.20) in a report issued on Tuesday. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 54.53% from the company’s current price.
A number of other research firms have also recently weighed in on MRO. Deutsche Bank restated a “buy” rating and issued a GBX 275 ($3.59) price target on shares of Melrose Industries in a report on Friday, September 7th. Peel Hunt restated a “buy” rating and issued a GBX 240 ($3.14) price target on shares of Melrose Industries in a report on Thursday, September 6th. UBS Group upped their price target on Melrose Industries from GBX 250 ($3.27) to GBX 270 ($3.53) and gave the stock a “buy” rating in a report on Tuesday, September 4th. Barclays upped their price target on Melrose Industries to GBX 260 ($3.40) and gave the stock an “overweight” rating in a report on Monday, September 10th. Finally, Royal Bank of Canada restated a “top pick” rating on shares of Melrose Industries in a report on Monday, November 26th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of GBX 261.67 ($3.42).
Shares of MRO stock opened at GBX 158.55 ($2.07) on Tuesday. 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 issued its earnings results on Thursday, September 6th. The company reported GBX 5.80 ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of GBX 4.40 ($0.06) by GBX 1.40 ($0.02).
In other news, insider Justin Dowley purchased 9,531 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were acquired at an average price of GBX 174 ($2.27) per share, for a total transaction of £16,583.94 ($21,669.85). Also, insider Charlotte Twyning bought 36,000 shares of the stock in a transaction on Wednesday, October 3rd. The shares were bought at an average price of GBX 197 ($2.57) per share, for a total transaction of £70,920 ($92,669.54).
About Melrose Industries
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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