Melrose Industries (LON:MRO) had its price target hoisted by UBS Group from GBX 250 ($3.22) to GBX 270 ($3.48) in a research report released on Tuesday, www.digitallook.com reports. UBS Group currently has a buy rating on the stock.
Other analysts also recently issued reports about the stock. Liberum Capital reiterated a buy rating on shares of Melrose Industries in a report on Thursday, May 10th. Peel Hunt restated a buy rating and set a GBX 240 ($3.10) target price on shares of Melrose Industries in a report on Monday, June 25th. Numis Securities boosted their target price on shares of Melrose Industries from GBX 250 ($3.22) to GBX 280 ($3.61) and gave the stock a buy rating in a report on Monday, May 14th. Goldman Sachs Group lowered their target price on shares of Melrose Industries from GBX 380 ($4.90) to GBX 320 ($4.13) and set a buy rating on the stock in a report on Monday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Melrose Industries from GBX 250 ($3.22) to GBX 260 ($3.35) and gave the stock an overweight rating in a report on Monday, May 21st. Eight investment analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of GBX 267.50 ($3.45).
LON MRO opened at GBX 226.20 ($2.92) on Tuesday. Melrose Industries has a 12-month low of GBX 2.13 ($0.03) and a 12-month high of GBX 261.90 ($3.38).
Melrose Industries (LON:MRO) last posted its quarterly earnings data on Thursday, September 6th. The company reported GBX 5.80 ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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%.
The company also recently announced a dividend, which will be paid on Friday, October 12th. Investors of record on Thursday, September 13th will be issued a dividend of GBX 1.55 ($0.02) per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a yield of 0.67%.
In other news, insider Archie Kane bought 50,000 shares of the stock in a transaction that occurred on Monday, June 25th. The shares were acquired at an average cost of GBX 220 ($2.84) per share, for a total transaction of £110,000 ($141,898.86).
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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