Melrose Industries PLC (LON:MRO)‘s stock had its “overweight” rating restated by investment analysts at J P Morgan Chase & Co in a note issued to investors on Friday, September 1st, Marketbeat Ratings reports. They currently have a GBX 250 ($3.23) price target on the stock. J P Morgan Chase & Co’s price objective points to a potential upside of 25.00% from the stock’s current price.
A number of other brokerages have also commented on MRO. Beaufort Securities reaffirmed a “buy” rating on shares of Melrose Industries PLC in a research report on Friday, May 12th. BNP Paribas lowered shares of Melrose Industries PLC to a “neutral” rating and set a GBX 250 ($3.23) price objective for the company. in a research report on Tuesday, July 18th. Liberum Capital reaffirmed a “buy” rating and set a GBX 260 ($3.36) price objective on shares of Melrose Industries PLC in a research report on Thursday, May 11th. Barclays PLC reaffirmed an “overweight” rating and set a GBX 255 ($3.29) price objective on shares of Melrose Industries PLC in a research report on Thursday, August 17th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Melrose Industries PLC in a research note on Monday, July 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Melrose Industries PLC presently has an average rating of “Buy” and a consensus price target of GBX 260.91 ($3.37).
Shares of Melrose Industries PLC (MRO) opened at 200.00 on Friday. Melrose Industries PLC has a 52 week low of GBX 162.00 and a 52 week high of GBX 261.70. The firm’s market capitalization is GBX 3.79 billion. The stock has a 50 day moving average price of GBX 225.42 and a 200-day moving average price of GBX 232.87.
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In other news, insider David Alexander Roper sold 2,000,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of GBX 255 ($3.29), for a total transaction of £5,100,000 ($6,586,594.34).
About Melrose Industries PLC
Melrose Industries PLC is a United Kingdom-based company, which is engaged in buying manufacturing businesses. The Company operates through an Energy segment, which includes the Brush business that is a specialist supplier of energy industrial products to the global market. The Company’s Brush Turbogenerators is an independent manufacturer of electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors, and also supplies switchgear, transformers and other power infrastructure equipment.
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