Several other research firms also recently commented on MRO. Royal Bank of Canada reiterated a top pick rating on shares of Melrose Industries in a research note on Friday, February 1st. JPMorgan Chase & Co. dropped their price objective on Melrose Industries from GBX 285 ($3.72) to GBX 245 ($3.20) and set an overweight rating on the stock in a research note on Tuesday, December 4th. Bank of America dropped their price objective on Melrose Industries from GBX 250 ($3.27) to GBX 240 ($3.14) and set a buy rating on the stock in a research note on Tuesday, January 8th. Goldman Sachs Group dropped their price objective on Melrose Industries from GBX 240 ($3.14) to GBX 230 ($3.01) and set a conviction-buy rating on the stock in a research note on Tuesday, January 8th. Finally, Barclays dropped their price objective on Melrose Industries from GBX 260 ($3.40) to GBX 250 ($3.27) and set an overweight rating on the stock in a research note on Monday, October 15th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of GBX 250.50 ($3.27).
Melrose Industries stock opened at GBX 161.35 ($2.11) on Monday. Melrose Industries has a 12 month low of GBX 2.13 ($0.03) and a 12 month high of GBX 261.90 ($3.42).
In related news, insider David Alexander Roper bought 643,602 shares of the company’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average price of GBX 155 ($2.03) per share, for a total transaction of £997,583.10 ($1,303,519.01).
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.
Further Reading: Coverage Ratio
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