Melrose Industries’ (MRO) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

Melrose Industries (LON:MRO)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a report issued on Wednesday, MarketBeat reports. They presently have a GBX 600 ($8.19) target price on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.33% from the company’s previous close.

Melrose Industries Price Performance

Shares of LON:MRO opened at GBX 524.80 ($7.16) on Wednesday. The company has a market capitalization of £6.78 billion, a P/E ratio of -177.49, a P/E/G ratio of 0.48 and a beta of 1.51. Melrose Industries has a 1-year low of GBX 376 ($5.13) and a 1-year high of GBX 682.60 ($9.32). The firm’s 50 day simple moving average is GBX 475.84 and its two-hundred day simple moving average is GBX 518.07. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Insiders Place Their Bets

In other Melrose Industries news, insider Alison Goligher purchased 20,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of GBX 462 ($6.31) per share, with a total value of £92,400 ($126,143.34). Also, insider Peter Dilnot acquired 12,425 shares of the stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average price of GBX 400 ($5.46) per share, for a total transaction of £49,700 ($67,849.83). 1.00% of the stock is currently owned by insiders.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.