Melrose Industries PLC (LON:MRO) has been given a consensus rating of “Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is GBX 243.33 ($3.18).
MRO has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “top pick” rating and issued a GBX 245 ($3.20) price target (up from GBX 235 ($3.07)) on shares of Melrose Industries in a research note on Wednesday, April 10th. Peel Hunt reiterated a “buy” rating on shares of Melrose Industries in a research note on Thursday, May 9th. Goldman Sachs Group reiterated a “buy” rating on shares of Melrose Industries in a research note on Friday, April 12th. Barclays reiterated an “overweight” rating on shares of Melrose Industries in a research note on Friday, May 24th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Melrose Industries in a research note on Monday, April 15th.
In related news, insider Justin Dowley acquired 23,737 shares of Melrose Industries stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of GBX 176 ($2.30) per share, for a total transaction of £41,777.12 ($54,589.21).
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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