Bank of America reaffirmed their buy rating on shares of Melrose Industries (LON:MRO) in a research report sent to investors on Thursday morning, Digital Look reports. The firm currently has a GBX 230 ($3.01) target price on the stock.
A number of other analysts have also weighed in on MRO. Goldman Sachs Group restated a buy rating on shares of Melrose Industries in a research note on Monday, September 23rd. Peel Hunt restated a buy rating on shares of Melrose Industries in a research note on Monday, September 2nd. JPMorgan Chase & Co. upped their target price on shares of Melrose Industries from GBX 250 ($3.27) to GBX 265 ($3.46) and gave the stock an overweight rating in a research note on Friday, September 6th. Royal Bank of Canada restated a top pick rating on shares of Melrose Industries in a research note on Wednesday, October 9th. Finally, Citigroup increased their price target on shares of Melrose Industries from GBX 220 ($2.87) to GBX 230 ($3.01) and gave the company a buy rating in a research note on Monday, September 9th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of GBX 242 ($3.16).
Shares of MRO stock traded up GBX 0.90 ($0.01) during trading hours on Thursday, reaching GBX 202 ($2.64). 8,299,604 shares of the stock were exchanged, compared to its average volume of 14,820,000. The business’s fifty day moving average is GBX 189.54 and its two-hundred day moving average is GBX 184.20. The company has a debt-to-equity ratio of 58.32, a current ratio of 1.08 and a quick ratio of 0.68. Melrose Industries has a 12-month low of GBX 145.95 ($1.91) and a 12-month high of GBX 209.30 ($2.73). The firm has a market capitalization of $9.82 billion and a P/E ratio of -31.08.
The business also recently declared a dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 12th were paid a GBX 1.70 ($0.02) dividend. The ex-dividend date was Thursday, September 12th. This represents a yield of 0.84%. Melrose Industries’s dividend payout ratio is currently -0.77%.
About Melrose Industries
Melrose Industries PLC engages in the aerospace, automotive, powder metallurgy, air and security, and other industrial businesses. Its Aerospace segment supplies airframe and engine structures, landing gears, specialist technologies, and aftermarket services for commercial and military aircraft. The company's Automotive segment designs, develops, manufactures, and integrates driveline technologies for car manufacturers; and operates as an all-wheel drive systems integrator and electric powertrain systems engineer.
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